The ride-hailing app Lyft has announced a deal to acquire the business of FREENOW, a major player in the taxi-hailing app industry in Europe, for a whopping 175 million euros or approximately 6.6 billion baht. This deal involves a full cash payment to the current shareholders of FREENOW, which is currently owned by BMW Group and Mercedes-Benz Mobility.
FREENOW operates in 9 countries and 150 cities across Europe, including the United Kingdom, Germany, Spain, Italy, and France. Lyft has stated that after the completion of the acquisition, the FREENOW brand will continue to operate under its current name.
Up until now, Lyft has been primarily operating in North America. The acquisition of FREENOW signifies a strategic expansion into global markets, with Europe being the chosen initial target region.
Source: Lyft
TLDR: Lyft acquires FREENOW, a European taxi-hailing app, for 175 million euros. After the acquisition, FREENOW will continue operating under its current brand in Europe.
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