Headwaters announced today that it advised Digital Payment Technologies (DPT), an innovative leader in the design, manufacture, and distribution of multi-space parking meters, management software, and online services, on its acquisition by T2 Systems, a technology-focused parking system provider with offerings to help organizations manage all aspects of a parking operation.
"This combination of two respected companies in the parking industry will create new and exciting opportunities for our clients, partners and employees. DPT is proud to be part of the T2 team and looks forward to an exciting future," said John Fraissinet, CEO of DPT.
"The commitment to supporting customers' needs is fundamental for both T2 and DPT, and that will only be strengthened as a result of this transaction. T2 and DPT will continue to work with all of our partners to ensure that our customers have the solutions they need to achieve their business objectives," commented David Sparks, President and CEO of T2 Systems.
Adrian Kingshott, Managing Director at Headwaters MB added, "Together, Digital Payment Technologies and T2 Systems are capable of offering the parking industry enhanced enterprise data, comprehensive management software, and sophisticated parking hardware as a streamlined and fully integrated parking solutions provider. We believe that the parking industry will continue to consolidate and that other participants in the industry will merge to provide a broader range of services to an increasingly demanding client base."
Terms of the acquisition were not disclosed.
About Digital Payment Technologies
Digital Payment Technologies (DPT) is a leading provider of "smart" multi-space pay stations and cloud-based enterprise software for the parking industry. DPT products provide complete financial tracking, control, and reporting on parking revenue collected by cities, municipalities, universities, private operators, and national parks, from customer payment through to bank deposit. Digital Payment Technologies was founded in 1997 and is headquartered in Burnaby, BC, Canada. For more information, visit www.digitalpaytech.com.
About T2 Systems
T2 Systems is a technology-focused parking system provider with deep roots in the evolving parking industry. With proven, unified solutions and the team willing to go the extra mile, T2 delivers sophisticated data and tools to parking operations, enabling them to achieve greater efficiencies, increased revenues and proven ROI. T2 Systems was founded in 1994 and is headquartered Indianapolis, Indiana. For more information, visit www.t2systems.com.