Zipcar Acquires UK’s Streetcar

Erin Kutz4/21/10

Cambridge, MA-based car-sharing company Zipcar announced it has acquired Streetcar, a U.K.-based car club that operates under a similar model. Zipcar chairman and CEO Scott Griffith said in the company statement that “when considered along with our investment in the largest car sharing company in Spain in late 2009, this transaction gives us a very strong base from which to expand to additional European markets.” The announcement did not reveal the financial details of the deal, which brings the combined membership of the two companies to over 400,000, but the Wall Street Journal pegged it at $50 million.

Erin Kutz is an Associate Editor for Xconomy. You can reach her by e-mail at ekutz@xconomy.com or by phone at (617) 252-0700, or follow her on Twitter at @erkutz.