On 22 December 2010, the Company announced that it had entered into an acquisition agreement to acquire 100% of Meter Eye. Meter Eye is a New Zealand based company which operates in the car park technology business. Meter Eye has a suite of innovative products which allow car park owners and operators to utilise their assets more efficiently. In the UK, Meter Eye has formed a relationship with Town and City Parking Limited (TCP) which operates over 1,000 car parks across the UK. Meter Eye has agreed with TCP to share in car parking infringement revenue generated at car park sites where Meter Eye’s products are installed, subject to an assessment of each car park site.