Germany-based mobility platform Freenow has been acquired by US ride-hailing specialist Lyft from BMW Group and Mercedes-Benz Mobility in a deal worth €175 million.
Nasdaq-listed Lyft, which is one of the major rivals to Uber in the US, said the deal was its “most significant expansion outside North America”.
David Risher, CEO of Lyft, added: “We’re on an ambitious path to build the best, most customer-obsessed mobility platform in the world, and entering Europe is an important step in our growth journey.
“We found the perfect partner in Freenow and can learn a lot from the team. Freenow’s local-first approach mirrors Lyft’s values and embodies our purpose – to serve and connect.”
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