Metropolis Technologies, Inc. has Acquired SP Plus Corporation. Click here for more details.

Close this search box.

Acquisition Announcement


As announced in this Press Release, SP+ and Metropolis Technologies, Inc. have signed an Agreement and Plan of Merger pursuant to which Metropolis will acquire all the outstanding shares of SP+.

Before the deal can close, it must be approved by our shareholders and receive antitrust clearance.  If the approvals are received, we would expect the transaction to close in 2024, at which time SP+ will combine with Metropolis and operate as a privately-owned company.  Unless and until the deal closes, our two companies will remain completely independent and will continue to do business as usual.

About Metropolis

Ever since Metropolis was formed in 2017, its focus has been on reimagining parking.  Just like SP+, it’s passionate about mobility and creating a remarkable consumer experience. Metropolis’s technology creates a “drive in and drive out” parking experience for consumers.  Metropolis has clients (and operates more than 500 parking facilities) in over 40 major U.S. markets, including many top-tier institutional real estate owners and managers, over five million customers, and 2,000 employees.

Strategic Objective

Metropolis was attracted to SP+ because of our success and our position as an industry leader.  It recognizes that our operational excellence, proprietary technology, talented employees and commitment to customer satisfaction have made us a highly valued partner to our clients.  Within the parking realm, Metropolis shares our vision of convenient, touchless parking – as we say, making every moment matter for a world on the go.

By joining together our highly complementary businesses, we’ll be able to further distinguish our combined footprint as a leading parking network, using cutting-edge technology serving millions of customers throughout North America and Europe.  Moreover, Metropolis has indicated it plans to invest additional financial resources in the combined business in order to accelerate the pace of growth and lead to enhanced products and increased revenue for clients.

What the Transaction Means For Our Clients, Customers and Vendors


Technology is core to the strategy for both companies.  The plan is for SP+’s Sphere Commerce platform to be fully integrated with the Metropolis platform and further enhanced in the future as the combined company makes additional investment in the platform.  Accordingly, clients who have implemented the Sphere Commerce platform need not worry about the platform being replaced, and clients who are considering implementing the Sphere Commerce platform can expect it to be supported, after the deal closes.

Similarly, we expect our Bags and Aeroparker services to continue, and their technologies to be supported.

Nor will the transaction change or impair any of our other services or the way our clients are used to working with us.  After the deal closes, we don’t expect any changes to our clients’ current cost structure or technology-related pricing (e.g., Sphere), to any of the other terms regarding the services we currently provide, or to our clients’ SP+ relationship managers.


Our combined network will expand after the deal closes, so our customers will have access to even more locations and a greater array of capabilities.  We don’t expect this deal to change the services our customers currently receive from us, the personnel they’re used to dealing with, or our billing systems for our monthly parker customers.  We also expect to continue to support so our customers can continue to easily and quickly find conveniently located parking options.


We expect our growth will accelerate after the deal closes, which in turn likely will translate into greater opportunities for our vendors.

Stakeholder Q&As

Click the appropriate link below for answers to various stakeholder-specific questions.

Use of Forward-Looking Statements

This communication includes certain “forward-looking statements” within the meaning of, and subject to the safe harbor created by, the federal securities laws, including statements related to the proposed merger of SP Plus Corporation (the “Company”) with an affiliate of Metropolis Technologies, Inc. (“Metropolis”) (the “Transaction”), including financial estimates and statements as to the expected timing, completion and effects of the Transaction. These forward-looking statements are based on the Company’s current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by the Company, all of which are subject to change. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “aims,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “considered,” “potential,” “estimate,” “continue,” “likely,” “expect,” “target” or similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. By their nature, forward-looking statements address matters that involve risks and uncertainties because they relate to events and depend upon future circumstances that may or may not occur, such as the consummation of the Transaction and the anticipated benefits thereof. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the Transaction on anticipated terms and timing, including obtaining required stockholder and regulatory approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the ability of Metropolis to obtain the necessary financing arrangements set forth in the commitment letters received in connection with the Transaction; (iii) potential litigation relating to the Transaction that could be instituted against Metropolis, the Company or their respective directors, managers or officers, including the effects of any outcomes related thereto; (iv) the risk that disruptions from the Transaction will harm the Company’s business, including current plans and operations; (v) the ability of the Company to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting the Company’s business; (ix) general economic and market developments and conditions; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the Transaction that could affect the Company’s financial performance; (xi) certain restrictions during the pendency of the Transaction that may impact the Company’s ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as the Company’s response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Transaction, including in circumstances requiring the Company to pay a termination fee or other expenses; (xvi) competitive responses to the Transaction; (xvii) the risks and uncertainties pertaining to the Company’s business, including those set forth in Part I, Item 1A of the Company’s most recent Annual Report on Form 10-K and Part II, Item 1A of the Company’s subsequent Quarterly Reports on Form 10-Q, as such risk factors may be amended, supplemented or superseded from time to time by other reports filed by the Company with the SEC; and (xviii) the risks and uncertainties that will be described in the Proxy Statement available from the sources indicated below. These risks, as well as other risks associated with the Transaction, will be more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors to be presented in the Proxy Statement will be, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on the Company’s financial condition, results of operations, credit rating or liquidity. These forward-looking statements speak only as of the date they are made, and the Company does not undertake to and specifically disclaims any obligation to publicly release the results of any updates or revisions to these forward-looking statements that may be made to reflect future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Important Additional Information and Where to Find It

In connection with the proposed transaction between the Company and Metropolis, the Company will file with the SEC a Proxy Statement, the definitive version of which will be sent or provided to Company stockholders. The Company may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement or any other document which the Company may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement (when it is available) and other documents that are filed or will be filed with the SEC by the Company through the website maintained by the SEC at, the Company’s website at or by contacting the Company’s Investor Relations Team at:

SP Plus Corporation, Investor Relations
200 E. Randolph Street, Suite 7700,
Chicago Illinois 60601-7702
(312) 274-2000

Participants in the Solicitation

The Company and certain of its directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in connection with the proposed transaction. Additional information regarding the identity of the participants, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the proposed transaction (if and when they become available). Information relating to the foregoing can also be found in the Company’s proxy statement for its 2023 annual meeting of stockholders, which was filed with the SEC on March 30, 2023 (the “Annual Meeting Proxy Statement”). To the extent holdings of securities by potential participants (or the identity of such participants) have changed since the information printed in the Annual Meeting Proxy Statement, such information has been or will be reflected on the Company’s Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above.

*           *           *           *           *

Account Access

Monthly Parking Payments

Client Financial Reports