M&A Deal Summary

IBI Acquires HotSpot

On June 1, 2022, IBI acquired internet software and services company HotSpot

Acquisition Highlights
  • This is IBI’s 1st transaction in the Internet Software and Services sector.
  • This is IBI’s 5th transaction in Canada.
  • This is IBI’s 1st transaction in New Brunswick.

M&A Deal Summary
Date 2022-06-01
Target HotSpot
Sector Internet Software and Services
Buyer(s) IBI
Deal Type Add-on Acquisition

Target

HotSpot

Fredericton, New Brunswick, Canada
website
HotSpot specializes in creating products for parking, transit, taxi, and merchant payments. Its low infrastructure requirement aids in the rapid rollout of flexible, integrated mobility solutions and provides savings to clients and consumers. The company responds to community parking needs, creating adaptable solutions, including digital permits, gated-entry solutions, and parking enforcement and citation management solutions. In addition to parking, the platform’s app offers clients a digitized resource, combining taxi and transit information so that users can book a taxi, keep track of travel expenses, receive real-time transit updates, schedule and pay for taxis, and pay for public transit. HotSpot was formed in 2013 and is based in Fredericton, New Brunswick.

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Buyer(S) 1

Buyer

IBI

Toronto, Ontario, Canada

website

Category Company
Founded 1974
Sector Engineering
Revenue 557M CAD (2021)
DESCRIPTION

IBI is a globally integrated architecture, planning, engineering, and technology firm. IBI was founded in 1974 and is based in Toronto, Ontario.

DEAL STATS #
Overall 6 of 6
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (New Brunswick) 1 of 1
Country (Canada) 5 of 5
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-04 RLC Architects

Boca Raton, Florida, United States

RLC Architects specializes in planning and designing award-winning buildings and communities in South Florida. RLC Architects was founded in 1990 and is based in Boca Raton, Florida.

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