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Parx Introduces EASYPARK™ to the US Market

Parx INTRODUCES EASYPARK™ ELECTRONIC PARKING MANAGEMENT SYSTEM TO THE U.S. MARKET STARTING AT THE UNIVERSITY OF CALIFORNIA DAVIS

 

Iselin, NJ, February 6, 2012 - PARX Ltd. ("PARX") announced today that the University of California Davis (UC Davis) Transportation & Parking Services office has selected PARX's EasyPark™ electronic parking management and payment system for implementation on the UC-Davis campus. UC Davis has a student enrollment of approximately 36,000 (2010) and a parking inventory of over 16,000 spaces.

The UC Davis deployment marks EasyPark's initial entry into the U.S. market and builds upon global deployments across 120 municipalities around the world, including in Israel, France, Italy and Bermuda, and total device sales of over 1.1 million units. Initial EasyPark device deliveries for the UC Davis program are expected during Q1 2012. EasyPark revenues consist of device sales as well as service fees. EasyPark™ is an easy-to-use, electronic in-car solution that enables universities and municipalities to increase their parking revenues, reduce their parking management overhead and maintenance and substantially improve driver convenience, all without the requirement of costly infrastructure.

EasyPark's flexible platform supports a variety of parking payment models including time-based metering or the issuance of day, week, month or semester-long electronic permits. The time-based metering model will be utilized by UC Davis. EasyPark simplifies the user enrollment process, provides an easy management tool for the control and renewal of permits, saves money and provides better service. With EasyPark, UC Davis can assign individual devices to students, faculty and staff for on-campus parking in designated areas. The devices can also be programmed to support multiple parking zones, tariffs and special event parking for football games and other activities.

PARX's Chairman, Oded Bashan, commented, "We are excited and proud to welcome UC Davis as our first EasyPark implementation in the United States. We appreciate their leadership in deploying this highly effective and efficient solution and are confident that drivers on the campus will benefit greatly from this implementation. "We hope that UC Davis will serve as the model for additional EasyPark implementations at universities and municipalities in California and across the U.S. Similarly, given our renewed sales and marketing focus on the U.S., we look to drive expanded penetration of other OTI platforms such as Contactless Payment and Near Field Communications (NFC), MediSmart™ and EasyFuel™, to deliver secure, turnkey solutions based on unique, high-end patented contactless technology."

 

What is EasyPark?

EasyPark™ is a unique patented electronic parking management solution that delivers a quick, convenient and secure service for drivers.  For operators, the system increases revenue, reduces operating costs, paper and cash handling expense with little infrastructure or maintenance costs compared to most alternative solutions. EasyPark utilizes a small in-car electronic device placed in the window where it can be verified visually or using a contactless reader. The device tracks parking usage and processes payments, providing a user-friendly experience that eliminates the need for cash and time required for traditional parking meters or pay-and-display machines. EasyPark can be programmed to support multiple parking zones and special event parking rates (e.g. college football games), as well as designated parking zones for students, faculty and staff.

 

About PARX

PARX Ltd. is a subsidiary of OTI (NASDAQ GM: OTIV), responsible for developing, marketing, operating and distributing advanced parking solutions, including the EasyPark™ product, in international markets. The Company is currently serving over 120 municipalities around the world.

 

For more information on Parx, visit www.parxglobal.com.