Q-Free, a global supplier of mobility solutions for smart city infrastructure, has announced the sale of its parking division to the unit’s executive vice president, Dave Radford.
Morten Andersson, Q-Free’s senior executive vice president of traffic management, said the sale will allow business to focus on traffic management and tolling while maintaining a collaborative partnership with the new owner.
“At the company’s heart, Q-Free is an ATMS and tolling innovator and solution provider, and while we are extremely proud of the parking team’s accomplishments, this agreement will allow both entities to thrive,” he said.
“We are thrilled that Dave is the new owner. He’s a terrific leader and we’ve already discussed how we can collaborate for the benefit of both companies, and most importantly, our customers.”
The new company will be branded TCS International. “We are excited to grow our company with a single-minded focus that amplifies our place in the parking market,” said Radford.
“Reliable parking availability, directions and booking has become an expectation as drivers become more sophisticated. We see that trajectory continuing and TCS International will be there with the right solution whenever there’s a need.”
The sale was finalised March 31, 2021 when Radford and the TCS International team assumed all operations.
Existing Q-Free Parking team members will transition to the new company, which will be headquartered in Massachusetts, USA.
