This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Zipcar Acquires Leading Car Sharing Service In Austria,

CAMBRIDGE, Mass., July 11, 2012 /PRNewswire/ --  Zipcar, Inc. (NASDAQ: ZIP), the world's leading car sharing network, today announced the acquisition of Denzel Mobility CarSharing GmbH, a leading car sharing service in Austria, operating under the name  With this deal, Zipcar continues to grow its car sharing network globally, expanding the company's geographical footprint further into Europe. 

(Photo: )(Logo: )

This transaction follows Zipcar's acquisition of a controlling interest in Barcelona-based Catalunya Carsharing S.A., known as Avancar, in February 2012.  The acquisition also comes on the heels of Zipcar's integration of Streetcar operations in the UK last year and the recent appointment of Frerk-Malte Feller as president of Zipcar Europe. 

"The acquisition of in Austria gives us access to an established car sharing business in a key market with high growth potential," said Scott Griffith, chairman and CEO of Zipcar.  "We believe we can scale the business in Austria with our technology, car sharing expertise and extensive network. By leveraging opportunities such as this, we continue to execute our plan to grow the car sharing category and build out a leading car sharing network across Europe."

Denzel Mobility CarSharing GmbH is a leading car sharing service in Austria, with a presence in Vienna, Innsbruck, Salzburg, Graz and other cities across the country.  The company currently offers just under 200 vehicles and serves 10,000 members in Austria.

" Vienna is a sophisticated city with great public transit, a government dedicated to sustainability and eco-conscious consumers and businesses.  It is a very attractive market for car sharing," said Frerk-Malte Feller, president of Zipcar Europe. "As the global leader in the car sharing space, we aim to further strengthen the member experience and technological offerings, and make car sharing a mainstream transport option in Austria."

According to research by Frost & Sullivan, the market for car sharing in Europe is expected to reach 5.5 million members and has the potential to reach Euro 2.6 billion in revenue.

The acquisition of is not expected to have a material impact on Zipcar's 2012 third quarter or full-year financial results.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 0.00%
FB $117.43 0.00%
GOOG $692.36 0.00%
TSLA $232.32 0.00%
YHOO $36.01 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs