OTI's Subsidiary, PARX, to Introduce EasyPark(TM) in Brazil
finance.yahoo.com
First orders for more than $500,000 received
Signs operations agreement with H.S. Participacoes Ltda., which is part of the Brazilian Reunidas Group, to introduce EasyParkTM in several states in Brazil
Revenues generated from both Product Sale & Transaction Fees
Commenting on the cooperation, Oded Bashan, OTI's Chairman and CEO, said, "The project in Brazil is another step in our efforts to launch PARX's parking solutions in various global markets. These are based on our patented technology, offering a cost effective, user friendly, easy to operate solution with a proven business case. The project in Brazil is another example of our strategy of focusing on projects that generate both product sales followed by recurring revenues via transaction, licensing or royalty fees and service charges."
The EasyParkTM system offers a unique on-street and off-street parking management solution with minimum investment that does not require any expensive infrastructure or ongoing expensive maintenance. EasyParkTM provides detailed reports to the municipality in order to better manage and monitor parking patterns across town. The parking system is able to support multiple rates, cities and tariffs in a modular, scalable and easy to implement way.
EasyPark TM creates a uniquely convenient user experience by eliminating the need for cash, change, and looking for parking meters. To activate EasyParkTM the driver turns on the contactless unit and places it in the car window. Upon returning, the driver turns the device off. The driver can reload the device with additional parking funds either online or through public reloading stations. The system is environmentally friendly by eliminating the need for paper tickets. |
