Israeli taxi hailing app Gett has acquired British black cab company Radio Taxis.
Although the financial details of the acquisition were not disclosed Gett Western Europe managing director Remo Gerber mentioned same “several million pounds.”
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The cash deal will see Gett acquire all three brands within Radio Taxis’ parent company, Mountview House Group.
The deal will bring the total amount of Gett black cabs in London to 11, 500 or half of all the licensed taxis in the city.
The acquisition, which is subject to shareholder approval, will make Gett the country’s biggest black cab app, with more drivers in UK cities, than any other company.
Gett operates in 25 of the UK’s major cities including Birmingham, Manchester, Liverpool, Leeds, Glasgow and Edinburgh as well as the US and Russia, and throughout its home base in Israel.
The Mountview House Group also operates Xeta, another black cab brand, as well as One Transport, the global transport solutions platform which provides corporate clients with access to vehicles in almost every country around the world.
Remo Gerber, Managing Director of Gett in Western Europe said: “This deal will help even more customers get access to our fixed fares which are always better than the meter – with discounts of up to 30 percent on the fare they would otherwise pay.”
Gett’s revenues grew by 300 percent in 2015 and are projected to reach $500 million (£350 million) globally in 2016. Its clients already include half of the Fortune 500 companies around the world and to date it has raised more than $200 million (£140 million) in funding, according to the company.
Founded in Israel in 2010 by Shahar Waiser and Roi More, Gett (formerly Get Taxi) raised $150 million in August 2015 to fund its expansion.
