Free Now is being acquired by US ride-hailing platform Lyft (PRON: LIFT) for a reported €175-million.
It is currently owned by the BMW Group and Mercedes Mobility.
Both companies say Free Now will continue to operate as normal for the time being.
The purchase means Lyft will operate in 9 countries and 150 cities in Europe, along with the US and Canada.
The sale is expected to close at the end of this year.
Lyft says "approximately 50% of taxi bookings in Europe still happen offline," but claims customers are "hungry" for more online bookings.
Lyft CEO David Risher says, “we’re on an ambitious path to build the best, most customer-obsessed mobility platform in the world, and entering Europe is an important step in our growth journey.”
He says Free Now is "the perfect partner," and it can learn a lot from the team.
Free Now's "local-first approach mirrors Lyft's values and embodies our purpose — to serve and connect," he concluded.
