Global chauffeuring is quite a trendy concept today. Actually, it is more than just a concept, but a reality.
It is both a household name and a service. As the latter, it refers to a premium ground transportation service, providing chauffeur services for corporate travel and major events across the globe. Because, let’s admit it, it’s difficult to go around when you are unfamiliar with the place you’ve just visited. Meanwhile, as a household name, it pertains to TBR Global Chauffeuring.
Lyft has seen so much opportunities with this, so they decided to acquire this Glasgow-based company. Yes, you read that right.
“We are pleased to have supported the team at TBR Global Chauffeuring on this significant cross-border transaction,” the leaders of this deal pointed out.
Under this new deal, Lyft’s technology platform will work with the fleet of drivers that TBR Global Chauffeuring has.
TBR Global Chauffeuring boasts of being a global ground transportation provider with a remarkable focus on quality and a dedication to customer excellence. They operate across 120 countries and over 3,000 cities, providing premium ground transportation services for corporate and executive travel, as well as major global events.
The deal between this company and Lyft was made in cash, but the unpaid contingent costs are yet to be processed and sent.
With this acquisition, the world will witness Lyft’s technology stack, enabling passengers to order rides with contracted drivers, together with TBR Global Chauffeuring’s service and fleet of independent and professional chauffeurs. Furthermore, the company’s network of drivers will contribute their expertise in executive, event, and corporate transport.
TBR Global Chauffeuring has offices in Glasgow, Manchester, and London, in Great Britain, as well as in Boston in the United States, Hong Kong and Shanghai in China, Singapore, and Dubai in the United Arab Emirates. Founded in 1991, the company initially focused on catering for corporate events and finance roadshows.
The deal was agreed upon last October 15th, in collaboration with Japanese law firm Mori Hamada and Matsumoto. Following this acquisition, though, the company’s leadership team and brand won’t experience changes. Their most recent revenue also won’t get impacted by the deal. Lyft acquired the company for around $111 million.
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