The Internet of Things (IoT) technology provides a lot of possibilities to develop IT projects that offer to the citizens platform of services for better conditions of living and transporting. Our study contributes to the topical subject of smart cities analysing the performance of an IoT-platform based solution. It evaluates if an IoT platform project can achieve business, environmental and social objectives all together. We select and test a project developed in Nice (France) where 5.000+ sensors are deployed on parking slots to improve the urban transport. The benefits of the IT project are determined comparing data extracting from Nice and compared with two other similar cities (Marseille and Toulon) which play the role of control group. The analysis of the value creation and value capture suggest a governance model for a private and public collaboration. Our findings help public managers to understand better private-public partnership and then prepare the future cities development.