IBI Group Acquires HotSpot
June 1, 2022
IBI Group Inc. acquired HotSpot, a New Brunswick–founded mobility and parking solutions provider, to strengthen its traffic and transportation offerings and grow recurring revenue. HotSpot's platform — used by over 80 municipalities, cities and universities and 460,000 app users — will complement IBI's curbside, transit and payments capabilities and support the firm's U.S. expansion.
- Buyers
- IBI Group Inc.
- Targets
- HotSpot
- Industry
- Transportation
- Location
- New Brunswick, Canada
- Transaction Type
- Buyout
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