Car rental distribution platform and ground transportation service provider, CarTrawler, is acquiring Cabforce, Finnish technology and services company and a leading provider of taxi booking solutions.
CarTrawler, which is backed by funds advised by BC Partners and Insight Venture Partners, did not disclose details of the deal, including the offer price.
Cabforce was founded in 2009, and has headquarters in Helsinki. Its content is available in 54 different countries and six continents.
Mike McGearty: Acquisitiion benefits partners, customers and suppliers.
CarTrawler, CEO Mike McGearty, said: “With the addition of Cabforce content and specialist expertise to our existing portfolio of ground transportation products, we will significantly enhance the level of service, product range and availability for customers.”
The acquisition would also strengthen CarTrawler as “a world leading ground transportation company,” he added.
“This is a value creative deal for both companies; our partners, suppliers and customers will benefit from a stronger and broader infrastructure and increased support as a result of the acquisition.”
Cabforce CEO and co-founder, Andreas Hansson, said of the acquisition: “Our partners and suppliers will benefit from this investment through enhancements in technology, data science and conversion capabilities which will strengthen our value proposition significantly.
BC Partners’ Matthew Tooth sees the transaction creating opportunities for both companies to expand into the “markets and trade channels to which both companies provide a gateway.”
* Images credit: CarTrawler
