Enterprise to Acquire IGO CarSharing Business

5 years 3 months 3 weeks ago Tuesday, May 28 2013 May 28, 2013 Tuesday, May 28, 2013 12:30:41 PM CDT May 28, 2013 in News
By: Associated Press


ST. LOUIS (AP) - Enterprise Holdings says it's acquiring IGO CarSharing, a Chicago-based nonprofit car-sharing program.

The acquisition's the latest example of traditional car-rental companies expanding into the car-sharing business.

The move comes after Avis Budget Group acquired car-sharing service Zipcar for $491.2 million. Fellow rental car company Hertz Global Holdings also operates a car-sharing service.

Financial terms of the deal, set to close today, weren't disclosed.

IGO has more than 15,000 members and 200 locations across the city.

St. Louis-based Enterprise Holdings says IGO's services will continue to operate under their current name. All of IGO's current employees have been offered jobs.

 

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