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Ride - hailing giantLyftsaid it has check to acquire FREENOW , a German multi - mobility app with drive - hail at its core , from BMW and Mercedes - Benz Mobility for about $ 197 million in cash .
The acquirement opens up the European mart to Lyft for the first time . The company has only run in the U.S. and Canada since it plunge in 2012 , compared to its biggest rival Uber , which operates globally .
FREENOW operates in nine countries and more than 150 cities across Austria , France , Germany , Greece , Ireland , Italy , Poland , Spain , and the United Kingdom . The transaction is carry to close in the 2d half of 2025 .
The move fall a few month after FREENOWsharedthat its strategical centering on its taxi clientele result in year - on - yr growth of 13 % , and that it was hitting suspension - even .
Lyft read the merger would almost double its entire addressable marketplace to more than 300 billion personal vehicle misstep per year , and increase annualized gross reservation by about $ 1.14 billion .
“ We ’re on an ambitious route to build the best , most client - obsessed mobility weapons platform in the world , and entering Europe is an authoritative step in our growth journey , ” said David Risher , chief operating officer of Lyft , in a argument . “ We get the double-dyed cooperator in FREENOW and can learn a lot from the team . FREENOW ’s local - first glide path mirrors Lyft ’s values and body forth our purpose — to service and connect . ”
In a assertion this calendar week , BMW and Mercedes - Benz Mobility said they would persist in to concentre on their core cognitive operation in plus to electrification , AI , and decarbonization .
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Lyft said there will be no prompt changes to FREENOW ’s client experience , but that “ over sentence , new benefit will be made useable to FREENOW drivers and riders . ” It said the two companies will center on desegregation so riders can expend either app when they ’re in North America or Europe .
