Parkmobile USA, Inc. Announces New Chief Operating Officer

ATLANTA, Sept. 22 /PRNewswire/ -- Parkmobile USA, Inc., the world's leading provider of seamlessly integrated end-to-end parking solutions, announced that Gregory J. Stormberg, a pioneer in the parking industry, has been named Chief Operating Officer at Parkmobile USA, Inc.

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Effective September 22, Stormberg assumed the role of Chief Operating Officer, where he will lead the company's strategic initiatives which are focused on expanding the deployment of Parkmobile's industry leading technology solutions. Prior to joining Parkmobile, Stormberg spent the past 26 years in various executive roles with premier commercial parking and transportation operators.  In his last role he led the world's largest commercial parking and transportation company. As an executive with Central Parking Corporation, he managed in excess of 24,000 employees operating over 3,000 facilities (consisting of 1.6 million parking spaces). Mr. Stormberg was responsible for the company's U.S., South America, and Canadian operations. As part of his responsibility Mr. Stormberg headed up strategic acquisitions and initiatives, business development, management operations, and strategic technology initiatives. Mr. Stormberg played a key role with the company's automation initiatives that led to several advancements for the parking and transportation industry.

In May 2007, Mr. Stormberg helped lead what is still today the largest buyout transaction in the parking and transportation industry when selling Central Parking Corporation to a group of private equity firms in May 2007. The $726 million buyout was led by affiliates of Kohlberg & Co. LLC, Lubert-Adler LP, and Chrysalis Capital Partners LP.

Gregory J. Stormberg said, "Parkmobile is revolutionizing the parking and transportation industry with their forward thinking technology and enormously talented management team. The Company has accomplished a significant penetration into the market in its relatively short history and I look forward to working together to take it to the next level."

"Parkmobile is focused on building a strong and dynamic management team," said Albert Bogaard, President & CEO of Parkmobile USA, Inc. "Parkmobile is committed to making sure we maintain a diverse set of experiences throughout the organization. Greg absolutely brings this level of experience to the company and we are confident he will make a significant contribution to our future success."

About Parkmobile

Parkmobile USA is a privately held company consisting of two primary investor groups, BCD Holdings and Fontinalis Partners. Both investor groups are highly respected firms within their related fields. With annual global revenues of $16 billion, BCD Holdings is an international market leader in the travel industry. Fontinalis Partners invests in and partners with innovative technology companies that modernize and improve transportation. Fontinalis is led by Bill Ford, a lifelong environmentalist and the executive chairman of Ford Motor Company.

Many members of Parkmobile's executive team are also recognized leaders across related sectors of the parking and transportation industry.

Parkmobile is a leading global provider of seamlessly integrated end-to-end solutions for pay by phone parking and digital parking permits. Parkmobile is now widely used in 100 cities around the world by millions of registered users. Parkmobile USA was founded in Atlanta, Georgia and has become one of the largest providers of cashless parking systems in the United States. The company's call center, engineering team and corporate headquarters are located in the U.S. For additional information, please visit: www.parkmobile.com

SOURCE Parkmobile USA, Inc.