London, 2nd December 2019 – UK lower mid-market investor, Tenzing, today announces that its portfolio company, Ticketer, has acquired the Nordics’ leading bus ticketing company, FARA.
The investment in FARA by Ticketer, the UK market leader in bus ticketing technology, will not only increase the company’s product portfolio, but also strengthen its expansion into mainland Europe.
FARA, which has offices in Norway, Poland, Sweden, Finland and Denmark, shares the same core philosophy as Ticketer; of making travel easier for passengers. Applying the very latest technology in electronic ticket machines, back-office software and passenger-facing apps, FARA focuses on providing Real Time Information (RTI) for use onboard, online and on mobile to increase usage of public transport.
John Clarfelt, Founder & CEO of Ticketer, commented: “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 commented: “We’re delighted to have supported the Ticketer team in their acquisition of FARA, doubling the size of the business and further expanding Ticketer’s reach into Europe.”
Advisors to the transaction were Alpha Corporate Finance, Fairgrove, PwC, Clearwater International and Osborne Clarke, with Norwegian counsel from Aabø-Evensen & Co.