Shell Malaysia to acquire 50% stake in Pixelbyte

Shell general manager mobility Seow Lee Ming (left) and Pixelbyte chief executive officer Warren Chan (right).

KUALA LUMPUR: Shell Malaysia Trading Sdn Bhd has agreed to acquire 50% shareholding in Pixelbyte Sdn Bhd, the company operating ParkEasy.

ParkEasy is a mobile application software that not only lets drivers park quickly in shopping malls and other locations, but also the only service in Malaysia to offer a pre-booked slot for EV Charging.

In a statement, it said this investment will be Shell’s first investment in a local Malaysian tech start up. This investment gives Shell an immediate path to an established parking and e-mobility platform in Southeast Asia.

Shell’s general manager mobility Seow Lee Ming said decarbonising mobility and enabling better services to its customers through digital innovation are core to its ‘Powering Progress’ strategy.

“We intend to make investments that will help us serve our customers better through the energy transition and pressures of modern living.

“We value this opportunity to partner with a young Malaysian start-up, and believe our combined strength will help us develop superior mobility products and services for our customers,” she said.

ParkEasy will continue to operate under its existing management and name. Over the last 3 years, ParkEasy has grown its business from a parking reservation app to include other offerings such as sales of its proprietary smart parking solutions and electric vehicle charging bay management systems.

The acquisition is expected to complete in the third quarter of 2022.