Ride-sharing app Lyft announced Tuesday (April 19) that it has agreed to buy PBSC Urban Solutions, a supplier of bicycle sharing equipment and technology to customers around the world.
According to Lyft’s announcement, since 2008, PBSC has deployed 95,000 bicycles and 7,500 stations in 45 markets in 14 countries.
Terms were not disclosed for the transaction, which Lyft stated is set to close in the second quarter of 2022.
“Forging a better way to serve both cities and riders with the best bike- and scooter-sharing systems has long been part of our vision, David Foster, head of transit, bikes and scooters at Lyft, said in a prepared statement. “Our agreement to acquire PBSC will help us deliver world-class products and experiences to riders in the largest cities around the world in the coming decade.”
The companies already had worked together and Luc Sabbatini, president and chief executive of PSBC, said in a prepared statement, “By joining forces with our longtime partner Lyft, our employees, existing and future clients will have access to the broadest and richest range of micromobility solutions there is, bar none.”
See also: Lyft Teams With Spin to Offer Scooter Transportation
Sabbatini added: “There is a clear alignment of values, complementarity of skills and products and a unique worldwide footprint.” He is expected to stay with the company.
Lyft stated in the announcement: “Shared micromobility is core to Lyft’s mission to improve people’s lives with the world’s best transportation, offering riders a diverse range of modes to meet their transportation needs, whether they’re going 1 mile or 100 miles.”
In 2018, Lyft acquired Motivate, which like PBSC, has its roots in Montreal.
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