Lyft set to acquire bike-sharing equipment provider PBSC

SAN FRANCISCO (BRAIN) — Lyft on Tuesday announced an agreement to acquire global bike-sharing equipment and technology provider PBSC Urban Solutions. The transaction is expected to close in the second quarter of this year.

According to Lyft, the acquisition roughly doubles its scale in micromobility, benefiting from PBSC’s sales experience and customer relationships.

“This is a huge development and opportunity for PBSC,” said Luc Sabbatini, President and CEO of PBSC. “By joining forces with our long-time partner, Lyft, our current and future employees and customers will have access to the broadest range of micromobility solutions available, bar none.”

In 2018, Lyft acquired Motivate, which worked with PBSC in forming the BIXI Montreal bike share system. Since then, Lyft has expanded access to micromobility in North America, with its flagship New York City bike share, Citi Bike, growing from 12,000 bikes to more than 24,000. Lyft said it had a record 28 million cyclists using Citi Bike last year.

Lyft and PBSC share the common goal of providing cities with transportation alternatives to reduce carbon emissions. “Forging a better way to serve both cities and riders with the best bike and scooter sharing systems has long been part of our vision,” said David Foster, Head of Transit, Bikes and Services. scooters at Lyft. “Our agreement to acquire PBSC will help us deliver world-class products and experiences to cyclists in the world’s biggest cities over the next decade.”

PBSC offers four bike models – ICONIC, FIT, BOOST and E-FIT – in 45 cities around the world. Overall, it has 95,000 bikes and 7,500 stations

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