FAAC buys Magnetic

Italian based FAAC continued its march through parking industry manufacturers by purchasing Magnetic AG.  From their News Release:

On April 27th 2012 FAAC SpA completed the acquisition of Magnetic Autocontrol Group, a world  player in the domain of vehicle and access control. Headquartered in Schopfheim (Germany) Magnetic Autocontrol is a sound and strong company operating in the high growth market of “vehicle and pedestrian access control”  covering the global market through subsidiaries in Germany, Switzerland, Australia, China, Malaysia, Brazil, India and the USA.

This is on the heels of the company’s purchase of Datapark earlier this year and Zeag in mid 2011.


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2 Responses to FAAC buys Magnetic

  1. tony says:

    Eurozone in throes of economic upheaval and an Italian corporation buys up some hardware heavy parking vendors/manufacurers. Good move when trending is open facility web based electronically controlled software solutions? Think no gates or fee computers/booths or machines of any type. Imagine AVI/LPR, space sensors/GPS, smart phones, smart enforcement, demand pricing models and ITS. No device, you only have cash? No problem. We’ll give you the device just buy $$$$ certain amount of prepaid parking. Your device and $$ is good at any of these other locations because all data is in our cloud. Imagine wired!!

  2. JVH says:

    Tony — you are right, but you may be pushing the timing a bit. It is doubtful that these technologies, although readily available, will be pervasive in the parking industry for the next generation.

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