Lyft enters agreement to acquire Gett’s UK business, terms not disclosed

Lyft (LYFT) has agreed to acquire Gett’s UK business, subject to customary closing conditions, with close expected in the coming weeks. Tfe company said,”Gett is a leading London black cab app, and combined will have the majority of registered black cab drivers across Greater London on the Lyft platform. With the addition of Gett, Lyft is positioned as the leading app for London black cabs and will offer a comprehensive suite of ground transport options – from black cabs and private hire to bikes and executive chauffeur – that will nearly double the number of rides on the platform across the capital. Lyft already owns Freenow; currently provides and was recently renewed to provide the bikes and stations for Santander Cycles, including the software that powers them; and later this year will be testing autonomous rides in London with Baidu – making it one of the only platforms in the world offering both human-driven and autonomous rides in the city. This acquisition advances Lyft’s sustainable global growth strategy by expanding “out” in more locations and “up” into more high-value segments. Gett’s strength is its enterprise DNA – years of high-value B2B relationships with clients ranging from London’s largest corporations to historic venues and major public sector organizations. Together, that makes Lyft one of London’s most comprehensive mobility platforms, in Europe’s largest taxi and ride-hail market.”