HMB would like to congratulate Parkonect, a cloud-born, mobile-first parking technology company delivering Parking Access and Revenue Control, and its CEO Harlan Karp and the Parkonect team on a successful sale to FLASH, a leader in flexible technology solutions for urban real estate.
Parkonect helps properties by facilitating connectivity and mobility in parking assets via real-time intelligence and digital commerce tools. “When Parkonect launched ten years ago, we set out to create an IoT, cloud-based platform that augmented the current parking technology layer. As a real estate developer, I knew first-hand how valuable this approach was to the traditional rip-and-replace model,” said Harlan Karp, CEO of Parkonect. “With FLASH, I look forward to continuing to deliver world-class solutions that allow asset owners to make lasting improvements to asset value.”
Parkonect will continue to advance its distinct product line and roadmap offering both Parkonect and FLASH customers more options for 21st-century parking and asset management solutions. For current Parkonect customers, pricing and service will remain unchanged.
Parkonect was represented by HMB’s Mergers & Acquisitions Team, led by Corporate Partners Brian H. Axelrad and Brett M. Winterstein and Corporate Associates Paul C. Huddle, Elise Anderson and Marla M. Izbicky.