The Audi board today announced it intends to acquire Silvercar Inc., a shared mobility company, to expand its digital mobility solutions and services.
The companies expect approval of the transaction, with the transaction concluding in the first half of 2017.
Austin-based Silvercar helps Audi strengthen its platforms to serve the evolving mobility needs of the U.S. marketplace, according to Audi.
The two companies have worked together since 2012, developing and delivering consumer mobility offerings under the Audi mobility, Silvercar, and Dealerware brands. In 2015, Audi participated in a $28 million Series C investment in Silvercar. The company employs about 150 people.
“Audi and Silvercar share a vision for the future of transportation,” said Matt Carpenter, Audi of America’s chief financial officer. “This acquisition enables Audi to move forward with a progressive partner and continue our technology leadership into the next era of mobility.’’
“The intersection of transportation and technology, influenced by changing demographics and innovative consumer models has created an exciting new world of mobility,” said Luke Schneider, CEO of Silvercar. “We are thrilled to become part of Audi to enhance its leadership in this space.”
Audi has developed shared mobility solutions, from Audi on demand in San Francisco to corporate vehicle services like Audi shared fleet. Silvercar’s technology platform enables the management of transportation products and services in both the retail and corporate mobility spaces, including Audi shared fleet and Silvercar’s airport car-rental experience, according to Audi.
Silvercar will continue to operate in coordination with Audi of America to serve its U.S. customers. Currently, Silvercar’s app-based car rental service has 15 locations in several cities, including Austin, Chicago, Dallas, Denver, Fort Lauderdale, Las Vegas, Los Angeles, Miami, Newark, New York City, Phoenix, and San Francisco.