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Zipcar buys Austrian car sharing service, no terms

July 11, 2012

Acquisition expands company's overall global reach

Zipcar Inc. said Wednesday that it has acquired the Austrian car sharing service Denzel Mobility CarSharing GmbH, expanding its presence in Europe and its overall global reach.
Financial terms were not disclosed.

The deal for the company, which operates under the name CarSharing.at, follows Cambridge, Mass.-based Zipcar's acquisition of a controlling stake in a Spanish car sharing service earlier this year.
Zipcar said the acquisition of CarSharing.at gives it access to an established car sharing business in a key market with high growth potential.

Denzel Mobility has a presence in Vienna, Innsbruck, Salzburg, Graz and other cities across Austria. It operates just under 200 vehicles and serves 10,000 members.

Zipcar said it doesn't expect the acquisition to significantly affect its current quarter or full-year financial results.

Read the full article at http://www.businessweek.com/ap/2012-07-11/zipcar-buys-austrian-car-sharing-service-no-terms

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