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Bosch to Acquire U.S. Ridesharing Startup and Expand Mobility Services

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Published on : Feb 21, 2018

Mobility services offering is gaining strategic significance for companies of all hues eyeing an attractive share in the automotive and transportation market world over. Not only has it enabled automotive players to capitalize on smart connectivity solutions but allow them to have a say in connected devices and services. Robert Bosch GmbH, a German multinational automotive industry supplier, announced on February 21 that it has acquired a carpooling startup Detroit-based Splitting Fares Inc. (SPLT) in the U.S. and is setting up a dedicated mobility services unit. SPLT, unlike Uber and Lyft, focus on offered B2B carpooling services for everyday commute to employers, universities, and municipal authorities. Of note, the company claims to offer services to around 140,000 users in regions such as Mexico, Germany, and the U.S.

Acquisition Helps Bosch Target Double-Digit Growth in Data-Based Mobility Services Segment

The financial details of the transactions aren’t public yet but the new move underlines the march of German multinational engineering and Electronics Company beyond traditional services. For its dedicated digital unit, the company intends to employ over 600 staff at least five sites in Germany and China. The acquisition will help the company target double-digit percentage growth, expanding its capabilities in data-based mobility services.

Post the acquisition, SPLT will operate independently as a wholly owned subsidiary of the German company. One of the flagship mobility services offered by Bosch in Berlin is e-scooter rental, which it looks to expand to Madrid in 2018. The company has also been expanding its total fleet size of e-scooters. Apart from that, the companies also has established competencies in advanced safety systems, notably driver assistance systems.

Internet connected devices and electric vehicles form a key determinant in next-generation mobility solutions in the transportation sector, opines the company. 

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