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Helbiz Completes Acquisition Of Wheels

Nov 18, 2022•about 3 years ago

Acquiring Company

Helbiz

Acquired Company

Wheels

New YorkSoftware

Description

Helbiz, Inc. (NASDAQ: HLBZ), a leader in micro-mobility, today announced that it has completed the previously announced merger with Wheels Labs, Inc. (“Wheels”). The acquisition is expected to strengthen the ability to operate by expanding Helbiz’s presence to 67 markets globally, create a more diversified business model, and enhance the financial profiles of the Company.

Company Information

Company

Helbiz

Location

New York, United States

About

Helbiz is a global leader in micro-mobility services. Launched in 2015 and headquartered in New York City, the Company offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform in 35 cities around the world. Helbiz utilizes a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. Helbiz is expanding its urban lifestyle products and services to include live streaming services, food delivery and more, all accessible within its mobile app.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed