Parkway Corporation Acquires Premium Parking, Bolstering Parking Tech

Parkway Corporation has acquired Premium Parking for an undisclosed amount.

The acquisition brings together Parkway Corporation with a leader in free flow, gateless parking technology that powers over 1,300 locations across more than 50 markets, enabling millions of seamless parking sessions annually.

This move marks a significant expansion for Parkway Corporation into advanced parking technology solutions.

Founded in 2005, Premium Parking has distinguished itself by combining national parking operator expertise with technological innovation.

Its proprietary GLIDEPARCS® platform is designed to transform parking assets into smarter, more profitable, and frictionless operations.

Premium Parking delivers tailored solutions to diverse sectors including municipalities, healthcare systems, universities, hospitality, retail, and mixed-use developments, covering services from payments and compliance to customer support and account management.

The strategic rationale behind this acquisition centers on integrating Premium Parking’s innovative technology and operational capabilities into Parkway Corporation's existing portfolio.

Parkway Corporation gains access to Premium Parking's advanced digital platform and its established network, enhancing its ability to provide comprehensive and technologically advanced parking management solutions.

This integration is expected to create synergies by leveraging Premium Parking's expertise in automation and digital services, thereby broadening the combined entity's service offerings and operational efficiencies.

This acquisition underscores a trend towards digital transformation within the parking industry.

The combined entity is poised to offer an enhanced suite of smart parking solutions, merging advanced technology with operational scale.

Looking forward, the integration aims to deliver more efficient, user-friendly, and profitable parking experiences across an expanded client base, solidifying its position in the evolving urban mobility landscape.