Dublin headquartered travel-technology platform CarTrawler is acquiring Finnish technology and services company Cabforce, which is a provider of taxi booking solutions, for an undisclosed amount.
With a unified service at over 200 locations in 54 countries Cabforce is “the industry benchmark”, powering millions of business trips each year, according to CarTrawler.
“CarTrawler already has the most comprehensive range of car rental available online,” said CarTrawler CEO Mike McGearty.
“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.”
CarTrawler is backed by funds advised by BC Partners and Insight Venture Partners in making this acquisition.
Matthew Tooth, senior partner at BC Partners in London, 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.”
CarTrawler describes themselves as the leading B2B provider of technology solutions for the global travel industry. Essentially, they provide many travel options on a global level with their numerous partnerships. However, they have run into issues with international travel when travelers arrive to pick up their car rental only to find out they need to have an international license, which most travelers do not have. While there are many positives over a traditional car rental agency, CarTrawler has wrinkles in their operations which need ironing out.
Car rental companies and the travel industry could have a major competitor invading their markets.