EQT Acquires Australian Parking Tech Firm Orikan
Synopsis
Swedish private equity firm EQT has agreed to acquire Melbourne-based parking technology provider Orikan, expanding its portfolio of Asia-Pacific mid-market technology investments.
Equity firm EQT from Sweden has entered into an agreement to buy Melbourne's parking software technology firm Orikan as it continues with its investments in the Asia-Pacific region of companies involved in the provision of transport and public infrastructure solutions.
The transaction will be effected via BPEA EQT Mid-Market Growth Partnership fund. The financial details were not disclosed while the acquisition is pending the usual regulatory approvals.
Orikan is an Australia-founded company offering software, payment systems, and compliance technology that are used by government bodies, transport providers, airports, universities, hospitals, and commercial entities in order to run parking operations.
Orikan's operations are based in Australia, New Zealand, and North America with around 400 employees.
Growing demand for parking management technology
The deal follows investments by governments and operators of parking facilities in technologies that make parking easier to manage, automate the process, and facilitate payments.
As stated in the Fortune Business Insights Parking Management Market Report (2025), the worldwide parking management market size reached $4.88 billion in 2024 and is predicted to grow up to $25.7 billion by 2032 at a CAGR of 12.8%.
According to the report, the leading region in the global parking management market is North America, while the Asia-Pacific region will grow at the highest CAGR due to the development of smart cities.
Expanding EQT's regional technology portfolio
Orikan has been financed by Five V Capital, an Australian private equity firm, since 2021. According to EQT, the firm intends to collaborate with Orikan's management on developing software solutions, artificial intelligence technologies, customer services and expanding its presence internationally post-acquisition.
The deal is in line with EQT's recent trend of making technology investments in the region, including PropertyMe, an Australian property management software firm, and Mamezo Digital Holdings, a Japanese company.
The most recent deal makes EQT even more exposed to enterprise software companies based in Australia and the entire Asia Pacific.
As of 31 March 2026, the total assets managed by EQT were at €269 billion, which includes €142 billion of fee-earning assets. Both EQT and Orikan did not disclose any deal details or Orikan's financial figures.
Source: Reuters
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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