Zipcar has acquired the car sharing service, Streetcar bringing together these two companies to create a single, global brand.
The companies will ultimately operate under the Zipcar brand, with Streetcar founders and executives Andrew Valentine and Brett Akker retaining their leadership positions with Zipcar. The deal will benefit Streetcar and Zipcar members by offering more vehicles, a greater variety of hybrid and other green cars, and more locations. Streetcar members will have access to Zipcar’s global network of vehicles located in cities in the United States and Canada.
“In the near term, the more than 400,000 members of both companies will benefit from more cars, more convenience and enhanced technology,” said Scott Griffith, Chairman and CEO of Zipcar. “In the longer term, when considered along with our investment in the largest car sharing company in Spain in late 2009, this transaction gives us a very strong base from which to expand to additional European markets.”
“We are thrilled to be part of Zipcar,” said Andrew Valentine, co-founder of Streetcar. “We founded Streetcar with a vision of being the leading car club operator in Europe, and joining forces with Zipcar will help us realize that goal much more quickly. We look forward to continuing to deliver great service to our members.”
In the coming months, the companies will begin the process of transitioning the Streetcar brand, parking locations, technology and operations to the Zipcar brand and platform, and will be communicating directly with members, partners and other groups on developments that impact them.
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