Reuters – Zipcar Buys Austrian Car Sharing Company

U.S. car-sharing company Zipcar Inc. said it bought privately owned Austrian Denzel Mobility CarSharing GmbH, which operates as CarSharing.at, to expand its presence in Europe. Zipcar has been struggling with high competition and a slowdown in Europe. In February, it acquired majority interest in Barcelona-based Avancar.

(Reuters) – U.S. car-sharing company Zipcar Inc said it bought privately owned Austrian Denzel Mobility CarSharing GmbH, which operates as CarSharing.at, to expand its presence in Europe.

 

Zipcar, which allows customers to rent cars at an hourly or daily rate and often park in convenient reserved spots, did not reveal the deal value.

 

CarSharing.at operates about 200 vehicles and has 10,000 members in Austria with a strong presence in Vienna. Zipcar has over 673,000 members worldwide.

 

Zipcar has been struggling with high competition and a slowdown in Europe. In February, it acquired majority interest in Barcelona-based Avancar.

 

The company said it does not expect CarSharing.at’s buyout to have a material impact on its 2012 third quarter or annual results.

 

Zipcar shares closed at $11.40 on Tuesday on the Nasdaq.