BDO advises Passenger Technology Group on sale to Masabi

BDO has advised the shareholders of Passenger Technology Group, a UK-based passenger information and ticketing business, on their sale to Masabi Limited.

Passenger is a UK-based provider of Mobility-as-a-Service software solutions, focusing on improving the experience of public transport users and operators. Passenger works with over 90 private transport operators and local transport authorities across the UK to offer platform solutions such as mobile and contactless ticketing, real-time journey information, live vehicle tracking, and personalised travel alerts.

Masabi is a global leader in enterprise-grade SaaS fare collection for public transport. The deal strengthens Masabi’s end-to-end mobility offering by combining its global fare collection, payments, and back-office solution, with Passenger’s expertise and tools used by public transport authorities and operators across the UK.

“This deal is the beginning of an exciting new chapter for Passenger,” said Tom Quay, CEO at Passenger Technology Group Ltd.

“Masabi is a company that shares our focus on innovation, reliability, and improving public transport for both operators, authorities and passengers. Joining the global SaaS fare collection leader gives us the opportunity to scale our technology and bring the Passenger customer experience platform to new markets, while continuing to serve existing clients with the same commitment and agility they have come to expect.”

BDO acted as the lead M&A advisor to Passenger shareholders, maximising value during the sale to Masabi Limited. The deal was led by Paul Russell, Emma Greatrex and Dominique Kuttel at BDO.

Tom Quay added: “A huge thanks to the BDO Tech M&A team for their hard work, support and guidance throughout the process. We were impressed by the team’s deep software expertise and sector knowledge, combined with their attention to detail and clear recommendations and pragmatic advice, helping us make informed decisions. Each member of the team was approachable and a real pleasure to work with. This has led to an exceptional outcome and opportunity for the company, shareholders and employees.”

Commenting on the deal, BDO partner Paul Russell, said: “This is another great deal for BDO’s Tech M&A team in an active and dynamic sector.”

“We’re grateful to the Passenger management team who recognised our software expertise and advice throughout the process, and we wish Passenger and Masabi every success as they continue their growth journey together.”

ENDS

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