Urbana city card manager acquired by Canadian IT company
Urbana city card, managed by Margento. Photo: Margento
Margento R&D, a Maribor-based provider of mobility and mobile payment solutions, has been acquired by Enghouse Systems, a Canadian software and services company, for an undisclosed amount.
“We are excited to join forces with Enghouse. We can expand Margento’s presence and create synergies in our sales,” Margento R&D chief executive Žiga Schmidt was quoted as saying in a joint press release on 5 March.
Best known for managing the Urbana city card in Ljubljana and as the vendor behind the Valu mobile wallet, Margento R&D is a provider of solutions for transit fare collection, automatic vehicle tracking and payment solutions.
The company posted net sales of €4.5 million and a net profit of €50,000 in 2023, the latest year for which data are publicly available.
Enghouse Systems, which is listed on the Toronto Stock Exchange, is much larger, its full-year revenue exceeding €500 million last year.
Margento R&D’s ownership is not clear in public records but Necenzurirano, an investigative news portal, says it was controlled by entrepreneur Miloš Urbanija via a Dutch company.