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IBI Group Enhances Mobility-Based Solutions with Acquisition of HotSpot

Globe Newswire - Wed Jun 1, 6:00AM CDT

TORONTO, June 01, 2022 (GLOBE NEWSWIRE) -- Global design and technology firm, IBI Group Inc. (TSX: IBG) (“IBI” or the “Company”), announced today that it has acquired mobility solutions provider, HotSpot (the “Acquisition”). Founded in New Brunswick in 2013, HotSpot began addressing parking issues through technology and has since developed into a suite of integrated mobility solutions. Currently, the platform is in use across Canada and parts of the U.S., with more than 80 municipalities, cities and universities, and 460,000 mobile application users leveraging the platform’s mobility solutions. HotSpot’s suite of solutions will complement and bolster IBI’s traffic and transportation practice and its extensive offering of products and solutions that have been deployed globally, including CurbIQ, Travel-IQ, TRANSIT Data Suite and Smart City Platform.


Provided Content: Content provided by Globe Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.