Indianapolis, IN – May 6, 2014 – The Board of Directors of T2 Systems (T2) and Digital Payment Technologies (DPT) announced today that Mike Simmons, chairman, will take on the additional role of chief executive officer, effective immediately, replacing Dave Sparks, who is no longer with the Company.
“Mike is the visionary behind the unique customer experience that is at the core of this company’s success,” said Walker Simmons, board member and Partner at Pamlico. Pamlico Capital is a private equity firm that made a $28 million equity investment in T2 Systems in 2011. “Mike is enthusiastic about returning to the role of chief executive officer for the long term and excited to lead the company and its dedicated employees to even greater heights of achievement.”
As chairman and chief executive officer Simmons will be responsible for the overall strategic growth of the organization, which now includes recently acquired Digital Payment Technologies, with a predominant focus on innovation, thoughtful execution and relentless focus on the customer experience.
Simmons said, “The Company is financially strong, and continuing to experience strong growth in 2014, having just recently been awarded some of the largest projects in the histories of both T2 and DPT. I am truly excited for the chance to return to the industry I have been a part of for over 20 years, to work side by side with people I truly care about, and to help deliver industry-leading parking solutions to parking and transportation operations.”