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January 6, 2014updated 04 Apr 2017 4:09pm

T2 Systems agrees to acquire Digital Payment Technologies

T2 Systems, a US-based parking management solutions provider, has signed an agreement to acquire Canada-based Digital Payment Technologies (DPT).

By Verdict Staff

T2 Systems, a US-based parking management solutions provider, has signed an agreement to acquire Canada-based Digital Payment Technologies (DPT).

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The acquisition, which is subject to DPT shareholder and Canadian regulatory approval, is expected to close in the first quarter of 2014.

Following the acquisition, T2 and DPT will each continue to fully support and deliver their respective products, services and solutions to their customers, resellers and partners.

Additionally, the companies will now be able to offer enhanced parking enterprise data analytics for municipalities, universities, hospitals, owners and operators, as well as a broader set of consumer solutions.

T2 Systems said that the operating leadership of both the firms will continue while its president and CEO, David Sparks, will also serve as CEO of DPT.

Commenting on the acquisition, Sparks said: "The commitment to supporting customers’ needs is fundamental for both T2 and DPT, and that will only be strengthened as a result of this transaction.

"T2 and DPT will continue to work with all of our partners to ensure that our customers have the solutions they need to achieve their business objectives."

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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