Israeli taxi hailing app Gett (formerly Get Taxi) has acquired British black cab company Radio Taxis. Financial details of the acquisition were not disclosed but Gett Western Europe managing director Remo Gerber said that the acquisition was made for "several million pounds."
Following the acquisition, Gett will have a fleet of 11,500 London licensed cabs on its books, nearly 50% of the black cabs in the UK capital.
In London's "taxi wars" Gett is now firmly lined up behind the licensed black cabs while Uber is championing unlicensed minicabs. For this reason, the buyout was welcomed by London's Licensed Taxi Drivers Association.
Gerber said, “We are delighted to bring such a great business as Radio Taxis into the Gett family. Our aspiration is to provide our technology to their corporate customers.”
Radio Taxis’ parent company Mountview House Group, said that the all cash deal is subject to its shareholders approval but that its board unanimously supports the move.
Gett also operates in 25 of the UK's major provincial cities including Birmingham, Manchester, Liverpool, Leeds, Glasgow and Edinburgh as well as the US and Russia, and throughout its home base in Israel.
Published by Globes [online], Israel business news - www.globes-online.com - on March 31, 2016
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