Metropolis Technologies ("Metropolis") has closed $1.8 Billion financing and completes transformational take-private of SP Plus Corporation.

Metropolis Technologies ("Metropolis") and SP Plus Corporation (Nasdaq:SP) ("SP+") today announced that they have entered into a definitive agreement under which Metropolis will acquire SP+.

By bringing urban mobility infrastructure online, we are knitting disconnected parts of the everyday journey into a remarkable experience: one commute, one morning coffee, one grocery run at a time. Together, we have an unprecedented opportunity to reshape the way people experience their cities.

We’re bringing the antiquated and inefficient parking experience into the 21st century. While technology powers our lives and fuels our dreams of flying cars and robot taxis… how we park remains hopelessly analog. At Metropolis, we’ve developed an artificial intelligence platform, leveraging computer vision technology to connect all the pieces of the messy parking world so that you — the consumer — can finally have a seamless, checkout-free parking experience.