T2 Systems Acquires Digital Payment Technologies
T2 Systems, a technology-focused parking system provider with headquarters in Indianapolis, has acquired Digital Payment Technologies (DPT), a leader in providing “smart” multi-space paystations and “cloud-based” software for the parking industry.
Under the new enterprise, T2 and Vancouver, Canada-based DPT will continue to operate independently, supporting their respective solutions. Brands, products, services and relationships will remain unchanged.
With the Feb. 3, 2014, close of this acquisition, T2 will provide one of the parking industry’s most comprehensive offerings to customers, resellers and partners, as well as enhanced parking enterprise data analytics and a broader set of consumer solutions.
“We look forward to working with our customers as we transform our operation, and theirs, with enhanced parking management solutions and data analytics,” said David Sparks, T2 Systems CEO & President.
“T2 and DPT will continue to work with all of our integration partners and channels to ensure that our customers have the solutions they need and the parking enterprise data to achieve their business objectives,” Sparks said.
The Indianapolis-based company said that T2 and DPT customers will benefit from its commitment to drive forward the integration of parking enterprise data from multiple systems, providing an unmatched resource of real-time and historical parking data for customers.
“With the need for data these days, having all of the information makes [our] life so much easier,” noted Maria Irshad, Assistant Director of Houston’s Parking Management Division. “The combination of T2 and DPT will help us pull together our parking-related information, including data from more than 1,000 DPT paystations. It is the perfect combination,” said Irshad, also a member of the T2 Customer Advisory Board.
With the completion of the transaction, DPT employees join the T2 team led by Sparks. T2 and DPT operating leadership will remain in place, the company said. However, John Fraissinet, DPT’s CEO for the past 2½ years, will be stepping down.
T2 will continue operations in both Indianapolis and Vancouver.
[Sources: T2 Systems, Digital Payment Technologies]
Article Abstract from March, 2014