COLUMBUS, OH – February 22, 2021 – TIBA Parking Systems, the North American Leader in parking and mobility technology, and part of the FAAC Group family of companies, announced today that it has agreed to acquire the Parking Access and Revenue Control System (PARCS) portion of the Dallas, Texas-based, Associated Time Instruments (ATI). ATI has been serving its customers for over 60 years and has been a top TIBA Valued Added Reseller for TIBA equipment and technology for the last 4 years. ATI operates in the Southern U.S. markets including Texas, Louisiana, Oklahoma, Arkansas and New Mexico.
This acquisition reinforces the TIBA Parking commitment to providing a strong local presence across all markets. It also further strengthens TIBA’s leadership in the region, as the Texas market is one of the top regions in the U.S. for parking technology. ATI has deep roots in the region and this acquisition will provide the company even more resources to further establish leadership in the market and provide an even higher degree of service to the customers.
“We couldn’t be more excited for Associated Time Instruments to join the TIBA and the FAAC Group family of companies,” said Moshe David, CEO of TIBA. “Not only are we acquiring one of the top performing organizations in the PARCS industry, but an extremely talented team of individuals as well. Accelerated growth in southern U.S. and especially in the Texas market is core to TIBA’s overall strategy, and this acquisition will allow us to partner even more closely with ATI to truly dominate the region.”
With extensive global experience as part of the FAAC family of companies, TIBA’s robust, scalable cloud architecture enables parking operators to keep pace with the latest trends in centralized operations, automated smart facilities, ticketless and frictionless parking, web reservations, valet, and mobile payments. ATI adds a local expert presence to the region’s customers to sell, install, and support TIBA solutions.
“We’re thrilled to more formally join forces with TIBA, a company that is known industry-wide as a leader in innovation, flexibility and an engaged parking experience,” said Christopher Archer, President of Associated Time Instruments. “We have been a proud partner of TIBA for years, and now as a part of the TIBA family, we look forward to continuing to drive best-in-class technology, equipment and service to our customers with even greater power and resources behind us."
About TIBA Parking Systems TIBA Parking Systems is part of the FAAC Group, Italian multinational leader in the sector of automation and vehicle and pedestrian access control which includes HUB Parking and Magnetic. With the most advanced and flexible systems, TIBA products are scalable, reliable and user-friendly. TIBA is wholly committed to an “Engaged Parking Experience” through a focus on superior products, providing the industry’s most configurable solutions, and delivering a first-rate customer success partnership. TIBA’s flexible cloud architecture enables parking operators to leverage technology and market trends, and unlock new revenue opportunity. TIBA serves parking operators and owners both directly and through an extensive network of Value-Added Resellers. Visit www.tibaparking.com to learn more.
About Associated Time InstrumentsAssociated Time Instruments is a leading supplier of Parking and Revenue Control Equipment, Access Control, and Parking Guidance Systems. ATI is the market leader in Texas distinguishes themselves by providing superior products, expert consulting and engineering, quality installations, comprehensive support, and professional services. ATI provides both standard software products and custom software solutions and has been consistently providing modern and effective solutions to customers for the past 60 years!
MEDIA CONTACT:Jordan Weiss moc.gnikrapabit%40ssiew.nadroJ 512-826-1572