Uber to buy UK taxi tech firm Autocab
Stock Markets3 hours ago (Aug 05, 2020 07:20PM ET)
(C) Reuters. FILE PHOTO: Uber’s logo is pictured at its office in Bogota
LONDON (Reuters) – Uber (N:UBER) said on Thursday it was buying the British tech company Autocab, which sells booking and dispatch software to private hire firms, in a move that will allow the taxi app to reach customers where it does not currently operate.
The Silicon Valley-based firm said the acquisition will allow it to link people who open their Uber app in locations where it does not run, with other providers, starting in Britain but with other countries also in mind.
The companies did not put a value on the deal or detail how the arrangement would be monetised for Uber.
“Autocab has worked successfully with taxi and private hire operators around the world for more than thirty years and Uber has a lot to learn from their experience,” said Uber’s Northern and Eastern European boss Jamie Heywood.
Uber said it will also look into additional ways to boost revenues linked to its platform for services such as delivery.
Uber to buy UK taxi tech firm Autocab
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