Avis will pay $12.25 per share for Zipcar, which has made corporate venturing investments in start-ups Wheelz and Catalunya Carsharing, known as Avancar in Spain.
Avis Budget Group, a Nasdaq-listed car rental company, has agreed to buy car-sharing peer Zipcar for nearly $500m.
Avis will pay $12.25 per share for Zipcar, which has made corporate venturing investments in start-ups Wheelz and Catalunya Carsharing, known as Avancar in Spain.
Car sharing has grown to be a nearly $400m business in the US. Zipcar has more than 760,000 members, known as Zipsters, in 20 major metropolitan areas in the US, Canada and Europe, and fleet positioned at…
