Core Insights - Lightyear Capital, a private equity firm with over US$7 billion in assets under management, has signed an agreement to acquire PayByPhone, a leader in mobile parking payments, from Corpay [1][3] - PayByPhone serves more than 1,300 clients globally and is recognized for its digital parking payments and parking management software [3][5] - The acquisition aims to drive product innovation and enhance PayByPhone's growth, with plans for it to operate as an independent business under Lightyear's ownership [3] Company Overview - Lightyear Capital has over 25 years of experience partnering with companies in financial services, technology, healthcare, and business services, focusing on accelerating growth and building market-leading businesses [2][8] - PayByPhone is a global leader in mobile parking payments, simplifying the parking experience for over 110 million drivers worldwide through its app [5] Strategic Goals - Lightyear Capital's strategy involves partnering with strong management teams to broaden markets, strengthen operations, and create enduring enterprise value [3] - PayByPhone's management expresses excitement about the acquisition, highlighting Lightyear's fintech and payments expertise as a perfect fit for their long-term strategy to expand into wider mobility payments [3][4] Market Position - PayByPhone has established a strong user base with high customer retention rates and significant growth opportunities in the market [3] - The sale is expected to close in the second quarter of 2026, pending regulatory approvals [3]