BDO advises Volkswagen Financial Services on the acquisition of a mobile-payment solutions start-up
13 May 2020
BDO has advised Volkswagen Financial Services on the acquisition of Mathom AG, Fribourg/Switzerland. As part of this transaction, PayByPhone Technologies Inc., Vancouver/Canada, the digital parking service provider being active globally, purchased 100% of the shares in Mathom.
Mathom has developed a leading digital parking app which is currently used by approximately 100,000 drivers to purchase parking tickets via smartphone. Following the transaction, the mobile parking app will be further expanded across Switzerland, Germany, France, Italy and the UK.
PayByPhone, a 100% subsidiary to Volkswagen Financial Services AG, is a leading provider in the mobile-payment solutions market and the central service provider within the Volkswagen Group for the parking business, being present in 14 countries and nearly 1,000 cities in Northern America and Europe, serving 35 million customers.
A joint team of BDO AG Wirtschaftsprüfungsgesellschaft, Hamburg and BDO AG, Zurich advised Volkswagen Financial Services and PayByPhone on the transaction, including Karsten Paetzmann and Benjamin Haldimann (Financial Due Diligence), Stefan Piller (Tax Due Diligence) and Linus Bellwald (IT Due Diligence).