Berlin, Germany — Lyft has completed the acquisition of German-based Intelligent Apps GmbH, the operator of the FreeNow taxi and ride-hailing service, in a deal valued at €175 million. This significant move marks Lyft’s entry into the European market, allowing it to tap into a ride-sharing sector that encompasses multiple countries, including Germany, the United Kingdom, Ireland, Austria, France, Italy, Greece, Poland, and Spain.
The transaction, which was facilitated by law firms Baker & McKenzie and Abreu Advogados, involved extensive legal support covering various areas including corporate law, mergers and acquisitions, and intellectual property rights. Baker & McKenzie represented Lyft, while Abreu Advogados offered guidance on due diligence aspects in Portugal.
Simultaneously, DLA Piper provided legal counsel to BMW Group and Mercedes-Benz regarding the sale of their jointly run mobility platform, FreeNow. The platform, which will maintain its operations post-acquisition, aims to focus on further growth strategies within the competitive ride-hailing landscape.
Founded in 2012, Lyft has grown to become one of the earliest players in the U.S. ride-sharing market, expanding its services beyond just car rides to include bicycles and scooters, all available through a single mobile application. With this acquisition, Lyft’s operational reach is set to almost double, addressing a market that involves over 300 billion personal vehicle trips annually.
In a joint statement, both companies highlighted the strategic importance of this acquisition for Lyft as it seeks to establish a more substantial presence outside North America.
The team from Abreu Advogados that assisted in this transaction was led by partners César Bessa Monteiro Junior and Ana Sofia Batista, with significant contributions from other legal professionals within the firm.
This acquisition stands to enhance Lyft’s competitive standing in the European market, allowing it to leverage FreeNow’s existing infrastructure and customer base for future growth opportunities.
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