Market Overview

Zipcar Acquires Leading Car Sharing Service in Austria, CarSharing.at

Zipcar, Inc. (NASDAQ: ZIP) today announced the acquisition of Denzel Mobility CarSharing GmbH, a leading car sharing service in Austria, operating under the name CarSharing.at. With this deal, Zipcar continues to grow its car sharing network globally, expanding the company's geographical footprint further into Europe.

This transaction follows Zipcar's acquisition of a controlling interest in Barcelona-based Catalunya Carsharing S.A., known as Avancar, in February 2012. The acquisition also comes on the heels of Zipcar's integration of Streetcar operations in the UK last year and the recent appointment of Frerk-Malte Feller as president of Zipcar Europe.

The acquisition of CarSharing.at is not expected to have a material impact on Zipcar's 2012 third quarter or full-year financial results.

Posted-In: News M&A

 

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