EQT AB (EQBBF), a global investment firm, has agreed to acquire Orikan, a Melbourne-based smart parking technology company that provides software, hardware, payments and data services for parking management operations. The deal is expected to help Orikan invest further in innovation, strengthen its business and expand into adjacent markets, although EQT did not disclose the financial terms. According to the Australian Financial Review, citing unidentified sources, EQT would pay about A$475 million, or $330 million, to acquire Orikan from Five V Capital.
The acquisition fits into EQT Private Capital (Trades, Portfolio) Asia's Asia-focused MMG Fund strategy, which has recently included EQT becoming a majority investor in PropertyMe and launching a $371 million tender offer for Mamezo. Orikan serves government and private-sector customers across Australia, New Zealand and North America, including universities, airports, hospitals and stadiums. EQT Private Capital (Trades, Portfolio) Asia executives said Orikan is a business they have followed closely, pointing to its proprietary technology and operational support services as a differentiated platform with meaningful growth potential.
Investors may see the transaction as another sign that EQT is leaning deeper into Asia mid-market assets tied to technology-enabled services, payments, data and infrastructure-like demand. The deal remains subject to customary conditions and approvals, so completion is not yet final. The move also comes shortly after Perpetual Ltd., a Sydney-based asset manager, rejected a takeover offer from Windflower Pte, which is indirectly controlled by EQT, suggesting the firm remains active across Australian dealmaking even as individual outcomes vary.