Parkeon enhances its global leadership in transport ticketing and payment systems by acquiring Wayfarer Group

The move broadens Parkeons geographic reach and product portfolio at a time when cities increasingly seek integrated solutions for mass transit - bus, tube and tram - to ease congested streets and facilitate passenger movements.

Paris-based Parkeon is the world leader in ticketing and payment solutions for on- and off-street parking, as well as for rail, tram and other forms of mass transit. Created 30 years ago as a division of engineering group Schlumberger, Parkeons products and systems ease mobility management in over 3,000 cities across 40 countries, including the top 50 cities in the US. The company has more than 900 employees and generated revenues of €140 million in 2006.

Founded in Poole (Dorset) in 1975, Wayfarer is the UK's leading provider of integrated fare revenue and back office systems to the public transport industry. It is the UK market leader with 80% of bus transport -- including Londons famous double-decker buses using its systems. With 210 employees, Wayfarer had revenues of 17.2 million (€ 25 million) in 2006.

Commenting on the acquisition, Parkeon Chairman and Chief Executive Officer Yves Chambeau said: With this transaction we gain a clear competitive edge in two key areas. First, our complementary strengths position us at the forefront of the industry for innovative solutions that can be used across all forms of public transport. We also gain a valuable market position, particularly in London, as the UK gears up its mass transit projects in view of the 2012 Olympics, he added.

In terms of products as well as geography, Wayfarer is a natural fit for Parkeon, noted Wayfarer Chief Executive Officer Tony McNamara. In combination, we will be the global leader for integrated transport ticketing and have the investment, innovation and R&D capacity needed for sustained growth.

Parkeon plans to retain the Wayfarer brand and headquarters in Poole, Dorset. It also plans to retain Wayfarers staff and technical expertise, whilst bolstering the latter with Parkeon staff.

Both companies will continue to support their product ranges and projects through their existing customer teams. They will also continue to team up with existing partners.

About Parkeon

Founded 30 years ago as a division of Schlumberger, Parkeon today is a world leader in parking and transport ticketing and payment systems. Its equipment and systems are used to manage mobility in over 3,000 cities across 40 countries. In the parking sector, Parkeon has an installed base of more than 150,000 on-street terminals and 800 off-street management systems worldwide. In the transport sector, it has an installed base of 5,000 ticket vending machines for national, regional and local rail networks, primarily in Europe.

Based in Paris, Parkeon has 900 employees around the world and generated revenues of €140 million in 2006. Following its spin-off from Schlumberger, Parkeon was incorporated in November 2003. In addition to its management, the main shareholder is Barclays Private Equity. For more information: www.parkeon.com

About Wayfarer

Founded in 1975, Wayfarer Transit Systems is the UK's leading provider of integrated fare revenue and back office systems to the public transport industry. The Companys expertise ranges from smart card technology and electronic ticketing equipment to CCTV security, GPS and mobile data networks. The Company currently holds 80% of the UK bus operator market, and sells 40% of its production outside of the UK. Wayfarer has supplied in excess of 400,000 electronic ticketing machines and supporting equipment worldwide - more than any other fare revenue systems supplier in the world. Based in Poole, Dorset, Wayfarer has service centres in Croydon, Coventry, Manchester and Glasgow, as well as in Elizabeth, New Jersey and Kingston, Jamaica. For more information: www.wayfarer.co.uk