Member News: Fullsteam acquires netPark
Fullsteam, a holding company acquiring software and payments businesses, announced today the acquisition of netPark, a cloud-based point-of-sale and revenue management software company serving self-park and valet operations. The netPark acquisition is Fullsteam’s first in the parking technology market.
The netPark software is used to manage hotel, casino, hospital, off-airport, municipal and various valet and self-park lots. The system’s full-service offering includes integrated point-of-sale, payment processing, reservations, customer loyalty program, revenue tracking, and website and mobile app development services.
“NetPark is a wonderful addition to the Fullsteam portfolio of companies,” said Fullsteam CEO Michael A. Lawler. “In a highly competitive market, netPark’s leading technology and full-featured software and services separate it from the pack.”
For nearly 20 years, netPark has served the parking industry with its robust platform, and the software is currently used in more than 100 cities across the U.S. and Canada. The system processes an average of 23,000 tickets and more than 8,000 parking reservations daily with more than $1 billion in payments processed to date.
As part of the acquisition, partners Jon Schmidt and David Reynolds will remain with the company and continue to oversee day-to-day operations.
“We have been approached by various companies over the years, but Fullsteam was the first that seemed like a perfect match,” said netPark President Jon Schmidt. “Being able to offer our clients a unified payments solution will allow them to focus on what matters most, their operations, and not the day-to-day trials of payments management. We are excited about the opportunities Fullsteam will bring both our clients and our employees!”
Fullsteam™ is a leading software and payments company headquartered in Auburn, Alabama. Fullsteam acquires companies and provides them with streamlined payments infrastructure and enhanced operational support in order to increase growth and improve profitability. Fullsteam is actively seeking further acquisitions across multiple software verticals.