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Hertz to acquire Flexicar

ABR Staff Writer Published 27 October 2010

Hertz (HTZ) has signed an agreement to acquire Flexicar, an Australian car sharing company that provides services to members throughout Melbourne and Sydney.

Flexicar will be integrated into Connect by Hertz car sharing following closing, which is scheduled for 1 December 2010.

Hertz chairman and CEO Mark Frissora said, Connect by Hertz is an integral part of Hertz's overall strategy to provide total mobility solutions to their customers.

The Flexicar acquisition, Connect's first foray into the Australian market, will further strengthen our global car sharing footprint, enabling us to reach a greater audience and to provide our worldwide members access to car sharing vehicles in a sixth country, Frissora said.

Founded in 2005, Flexicar operates 90 vehicles and has approximately 2500 members throughout Melbourne and Sydney.

The acquisition will benefit Flexicar members by offering in-car technology, as well as access to cars and locations, and they will also be able to use Connect services in Berlin, London, Madrid, New York, and Paris.

Flexicar CEO Monique Conheady said, Hertz's infrastructure will enable Flexicar to tap into a wider array of resources, including its state-of-the-art technology, while providing members with greater products and services to enhance their overall experience.