Baltimore-based reservation parking service Parking Panda has been acquired by Chicago-based rival Spot Hero, VentureBeat.com reported Thursday.
Parking Panda’s “particular focus on event parking reservations,” partnerships with major league sports bodies such as the NHL and MLB and its expansion last year into Canada should serve the newly merged companies well, according to Venture Beat.
Terms of the deal were not made public, but no jobs have been lost in the merger. “All 30 Parking Panda employees are joining SpotHero, bringing the company’s total headcount to 180,” the Chicago Tribune reported, citing a SpotHero spokesperson.
This is the first buyout of a rival for Spot Hero since 2015, when it acquired San Francisco-based ParkPlease, said Venture Beat.
• Ken Shepherd can be reached at kshepherd@washingtontimes.com.
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