Oct 5 (Reuters) - U.S.-based transportation and logistics technology firm SP Plus will be acquired by parking technology provider Metropolis Technologies in an all-cash deal worth about $1.5 billion, the companies said on Thursday.
Shareholders of SP Plus will receive $54 per share, representing a premium of 52.5% over the stock's closing price on Wednesday.
The offer price values the Chicago-based firm at $1.06 billion.
SP Plus, which will go private after the deal is closed, provides parking management, facility maintenance and event logistics solutions among other services.
Metropolis offers computer vision technology that is deployed in parking lots, enabling customers to drive without the need for a checkout.
Persons:
Akash Sriram, Sherry Jacob, Phillips
Organizations:
SP, Metropolis Technologies, Metropolis, Thomson
Locations:
Chicago, Bengaluru