Ticketer, a bus ticketing technology business backed by private equity firm Tenzing, has acquired Nordic bus ticketing company FARA.
The acquisition will expand Ticketer’s product portfolio and strengthen its expansion into mainland Europe.
FARA uses technology in electronic ticket machines, back office software and passenger-facing apps to provide Real Time Information (RTI) for use on board public transport, online and on mobile devices. It has offices in Norway, Poland, Sweden, Finland and Denmark.
John Clarfelt, CEO of Ticketer, said: “We are thrilled to be investing in FARA and bringing together two leading payment providers in transport. We share the same values and, by virtue of working together, will be able to widen our development capabilities and product portfolios significantly for our customers both in the UK and across the rest of Europe.”
Guy Gillon, Managing Partner at Tenzing, added: “We’re delighted to have supported the Ticketer team in their acquisition of FARA, the Nordic market leader, doubling the size of the business and further expanding Ticketer’s reach into Europe.”