Updated: Aug 9, 2020
Uber has today announced that it has entered into an agreement to acquire UK technology company Autocab.
Autocab provides private hire and taxi operators with technology to run their business, including booking and dispatch software, and also connects them with trips through their iGo marketplace.
Through Autocab’s iGo marketplace, Uber will now hope to connect customers in places the company doesn’t operate, giving local operators the choice to take their booking. In turn, Uber hopes that operators could be able to expand their operations and offer more earnings opportunities to local drivers. Uber will also explore providing drivers with additional revenue opportunities related to its platform for other services, such as delivery.
The companies involved in the acquisition have not released details of the value of the deal.
Autocab’s mission has always been to encourage local private hire and taxi operators to transform their businesses, and their CEO believes Uber’s technology can help accelerate Autocab’s global ambition and the growth of their customers’ businesses.
Post-acquisition, Autocab will remain independent with its own board focussed exclusively on providing technology to the taxi and private hire industry around the world.
Safa Alkatab, CEO of Autocab, said: “Autocab has been working with local operators across the world to provide the technology to make them more efficient and open up a marketplace to provide more trips. Working with Uber we can scale up our ambitions, providing hundreds of thousands of additional trips for our customers, and help cement the place of licenced operators in their local community.”
Jamie Heywood, Regional General Manager, Northern & Eastern Europe, Uber, said: “Autocab has worked successfully with taxi and private hire operators around the world for more than thirty years and Uber has a lot to learn from their experience. We look forward to working with the Autocab team to help local operators grow and provide drivers with genuine earnings opportunities.”