Sweden’s EasyPark Group has announced its acquisition of Parko, the Israeli startup with a big data solution to finding street parking.

EasyPark says by adding Parko’s advanced algorithms to its current capabilities, the company will be able to offer optimized information about parking space availability and decrease driver’s parking search time, help cities improve traffic flows and increase utilization of surface car parks and garages for commercial operators.

“EasyPark has been investing heavily in parking availability prediction. The acquisition of Parko is another important step in enhancing our current solution and strengthening the team further with people passionate about making parking easy for drivers,” said Johan Birgersson, CEO at EasyPark Group. “This puts us in a unique position to deliver what we call Parking Excellence, meaning fully digitized parking solutions to cities and parking operators”.

“We built our company on our passion for making parking easy just as EasyPark has done. They have a very competent team and we are excited to join forces with them to create the world’s best parking guidance service,” said Tomer Neu-Ner, CEO of Parko.

Parko’s solution is often dubbed the “Waze of parking” as it guides drivers on the optimal route to park over the “last mile” of their journey.