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Hailo and Daimler-owned Mytaxi have merged creating Europe’s largest smartphone-based taxi-hailing company.
The newly formed company will operate under the Mytaxi brand and have a combined 70 million passengers and 100,000 registered taxi drivers in more than 50 cities across nine countries.
Hailo will be rebrand all of its UK, Ireland and Spain operations by mid-2017. Andrew Pinnington will be appointed CEO of the new company. Niclaus Mewes, founder of Mytaxi, is taking a seat on the board.
“The joining of Mytaxi and Hailo is another strategic step in making us a leader of mobility solutions and platforms,” said Klaus Entenmann, chairman of Daimler Financial Services AG.
“This investment is in addition to the nearly 500 million Euros we’ve already invested in building mobility platforms and services over the last years. We are prepared to make further strategic investments as we continuously build our mobility eco-system.”
The deal is subject to approval from the European Regulatory Authorities with a decision expected in the next few weeks.
The company’s head office will be in Hamburg, Germany.
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