American Traffic Solutions has rebranded itself as Verra Mobility Corp. to reflect the company's broader, global aspirations to become a smart mobility provider to help commercial fleets navigate toll, photo enforcement, parking fees, and other logistical challenges, the company has announced.
The company also hopes to develop solutions to help goverment fleets.
Verra Mobility, which will continue to be based in Mesa, Ariz., emerges out of a series of acquisitions involving the former company, which was acquired by Los Angeles-based private equity firm Platinum Equity in June of 2017. In early March, the company acquired Highway Toll Administration LLC. The company also acquired United Kingdom-based Euro Parking Collection plc.
The new name is a portmanteau of the Latin words ver, meaning truth, and terra, meaning earth. The name signifies the company's efforts to move the world with smart mobility solutions, according to a June 7 announcement. The company now operates in the U.S. and 15 countries in Europe with 700 employees.
In addition to its acquisitions, the company also continues to manage red-light, speed, and school bus stop-arm camera enforcement in New York City, Dallas, Chicago, Seattle, and Washington, D.C.
Originally posted on Automotive Fleet