CarTrawler has confirmed it has reached an agreement to acquire Finnish taxi booking technology specialist Cabforce.
The move is a significant expansion of CarTrawler’s ground transportation business in which it has established itself as a leading technology platform and online aggregator.
Cabforce operates on six continents and is said to be “the industry benchmark, powering millions of business trips each year”.
It was founded in 2009 and has headquarters in Helsinki, Finland. Cabforce content is available at over 200 locations in 54 different countries and six continents.
CarTrawler chief executive Mike McGearty said: “Everyone at CarTrawler is excited to welcome the Cabforce Team into our business.
“CarTrawler already has the most comprehensive range of car rental available online.
“Now 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.”
“This acquisition will strengthen CarTrawler as a world leading ground transportation company.
“Most importantly, our customers will benefit from the best experience every time and everywhere they book.
“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.”
Andreas Hansson, chief executive and co-founder of Cabforce, added: “The team at Cabforce is proud of the exceptional service that we provide our trade partners with.
“Our acquisition by a company of CarTrawler’s stature is testimony to the strength of the business that we have created.
“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.
“We look forward to continuing to deliver the first-class service that we have built our brand on and that our trade partners have come to expect from Cabforce.”
CarTrawler is backed by funds advised by BC Partners and Insight Venture Partners.
Matthew Tooth, senior partner at BC, said: “CarTrawler’s strategy for sustainable growth continues to deliver benefits to partners, suppliers, customers and investors.
“Today’s transaction will create tangible opportunities to further accelerate growth through expansion into the markets and trade channels to which both companies provide a gateway.”