CHICAGO, July 6, 2009 (GLOBE NEWSWIRE) -- Standard Parking Corporation (Nasdaq:STAN) today announced that it has completed the acquisition of the assets of Gameday Management Group, U.S., an Orlando-based company that plans and operates transportation and parking systems for major stadium and sporting events. Gameday has managed transportation and parking services for high-profile events including the Salt Lake City Winter Olympic Games, Super Bowls XXX-XLIV, the Daytona 500 and the Presidential Inauguration, and will be providing its services at the upcoming Vancouver Winter Olympic Games.
Among the assets acquired is Gameday's Click and Park(sm) online parking and traffic management system, which enables parking customers to purchase reserved parking online in advance of an event. In addition, the Company entered into long-term employment contracts with Tony Vitrano, Gameday's founder, and five other members of the Gameday management team.
James A. Wilhelm, President and Chief Executive Officer of Standard Parking said, "We are excited about this acquisition, which will enable us to provide our stadium and special event clients with transportation and parking planning expertise that can meet their most complex needs. We expect to leverage Gameday's stadium and special event traffic engineering services and front-end consulting expertise into other parking and transportation opportunities in the future.
"We're also very pleased to add the Click and Park(sm) online parking system to our product line. Our ability to enable special event attendees to purchase reserved parking over the Internet in advance of the event is a powerful example of how technology can be integrated within an ever-advancing parking industry.
"Finally, I'm delighted to welcome Tony Vitrano and his Gameday colleagues to our management team. They are seasoned professionals who bring an outstanding track record at event venues that require efficient high-volume traffic flow to meet the needs of spectators, media, teams, stadium staff and event sponsors alike. The Gameday team's commitment to excellence fits well with our core values."
In commenting on the transaction, Vitrano noted, "The effective integration of parking operations into an event venue's overall logistics plan is always demanding. The ability to combine our event expertise with Standard Parking's extensive base of parking experience will allow us to continue to deliver the best operational plans for our clients and their customers."
Wilhelm concluded by noting that, "We expect to be able to integrate this acquisition with little or no incremental G&A, which makes the transaction especially attractive to us. Our expectation is that this acquisition will be accretive on an on-going basis, pending the completion of a purchase price allocation analysis."
For more information on this press release please contact: mbaumann@standardparking.comYour complete source of news about the Olympics is www.aroundtherings.com, for subscribers only.
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