Israel’ transportation solutions firm HopOn has acquired the British company ECR for $10 million. The acquisition should allow HopOn to expand into new markets.
Founded in 2013, HopOn provides “seamless” mobility and data collection solutions for public and shared transportation. The company offers the m-ticketing platform, which it says allows passengers to enjoy “hassle-free travel across urban networks while operators improve their efficiency and reduce OPEX.” Based on a patented, hardware-free validation process, HopOn solutions support any ticketing scenario (CiCo, CiBo, BiBo) and regulatory requirements.
In Israel, HopOn provided the Rav Kav cards for prepaid public transport. The technology is cloud-based, thereby providing real-time data on passenger volumes and journeys, enabling PTOs, municipalities and smart city organizations to analyze trends and optimize their service.
The HopOn solution has been implemented in major European cities and integrated with leading banks. Tens of thousands of passengers travel with HopOn every day, without standing in line to buy or validate tickets.
Originally suppliers of cash registers, ECR has been around for more than five decades. Think about that: ECR once made that old style mechanical cash register with the handles and the pushbuttons. How old does someone need to be today to remember those machines and how they printed out their receipts?
Today ECR is a leader for payment solutions in the UK. The company’s services are used by transportation companies, cultural venues, leisure providers, and gym chains across Europe, Asia, America, and Australia.
By acquiring ECR, HopOn will be able to expand its customer base by taking advantage of ECR’s current connections and client base around the world.
“Acquiring ECR is the first step in HopOn’s strategic plan to enter the European market,” said Amir Rosenzweig, HopOn CEO. “It will allow quick and seamless marketing of HopOn’s smart solutions and technologies to British companies, introducing smart solutions to sectors in which HopOn has been previously inactive.”