Neology Acquires P Square Solutions, LLC To Strengthen End-To-End Tolling Systems Offering
Date
9/26/2024 5:30:34 PM
(MENAFN- EIN Presswire)
CARLSBAD, CA, UNITED STATES, September 26, 2024 /EINPresswire / -- Neology, a global transportation technology company that is partnering with customers to [re]imagine mobility today announced the Acquisition of tolling services and Technology business, P Square Solutions (P-Square), creating a new business division,“Neology PSquare.”
P-Square is a United States based tolling services and technology company, headquartered in Mt. Laurel New Jersey, USA with offices in Kochi, India. Neology is an established tolling systems integrator and solution provider, delivering roadside hardware, software, and back-office systems throughout the United States, Mexico, Europe, and Asia-Pacific. This partnership strengthens Neology's position as one of three end-to-end tolling system integrators offering a full suite of technology and service solutions to customers around the world.
As a part of this transaction Neology also acquires P-Square's India-based subsidiary, P-Square Toll Solutions India Ltd. This is a global development center with more than 100 years of experience developing and deploying transportation technology. Neology's investment reflects its commitment to global transportation infrastructure growth. With the acquisition of the P-Square India office, Neology can now offer local technical support for potential and existing customers in the region.
“P-Square has a proven track record of pairing best-in-class technology with excellent customer service,” said Bradley H. Feldmann, Neology Chairman and Chief Executive Officer.“Together, we have won over $600M in backlog in 2024 alone – I am confident that this partnership will continue to strengthen our ability to serve customers well.”
“Our complimentary customer-centric, technology-driven, and employee-friendly cultures makes this partnership a great choice for taking the P-Square team to the next level,” said Reddy Patlolla, P-Square Co-Founder and Chief Executive Officer.“We bring over 100 years of combined transportation and tolling industry experience to the Neology team, and a proven tolling back-office solution. Together, Neology and P-Square will continue to gain global market share in the tolling systems space.”
Catherine Phifer
Neology, Inc.
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