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Mystery buyer eyes Wellington's Snapper transport card

Mystery buyer eyes Wellington's Snapper transport card

Infratil reveals integrated ticketing business Snapper is under contract

Integrated ticketing company Snapper could soon have a new owner

Integrated ticketing company Snapper could soon have a new owner

Credit: Dreamstime

Infratil has a conditional buyer for Snapper, its Wellington integrated public transport and retail payment card business.

A slide deck released at today's investor day includes Snapper in a list of businesses for which conditional agreements had been inked.

Snapper CEO Miki Szikszai would not reveal the identity of the potential buyer but said they were based offshore and their interests were aligned with Snapper's. 

Infratil's 2018 annual report indicates the company was valued at $8.8 million.

Infratil's sale list also includes its student accommodation business at the Australian National University in Canberra and its NZ Bus business. 

Australian private equity firm Next Capital has been named as the conditional buyer of NZ Bus.

Snapper Services was formed in 2006 and is a wholly owned subsidiary. It launched its integrated ticketing card services in Wellington in 2008.

However, a national integrated ticketing system, dubbed Project Next, now being implemented by the New Zealand Transport Agency and various councils, potentially leaving Snapper's future in doubt.

Last year, Wellington Council announced Snapper was being phased out as a payment option for parking meters and for the Wellington Flyer service. 

In 2017, Infratil's NZ Bus business lost a tender to continue to supply most of Wellington's bus services.

At the time a Snapper spokesman said commuters would still be able to use their Snapper cards on the new buses and on all Metlink bus services from early 2018.


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