Taxi firm Addison Lee has bought US rival Flyte Tyme to try to keep pace with the astronomical rise of Uber.
The mailonline reports that private equity-owned company said the move would bolster global sales to nearly £400m and cement its position as one of the world’s biggest chauffeur businesses.
Flyte Tyme is based in New Jersey and has a turnover of £53m, with 525 staff and 375 drivers.
The move comes after Addison Lee boosted its global footprint in June last year by buying Tri-star Worldwide, which has operations in 80 countries.
Andy Boland, chief executive of Addison Lee, said the Flyte Tyme deal was an important moment for the executive car industry.
The tie-up will hand Addison Lee – which is owned by US private equity firm The Carlyle Group – a combined US fleet of 400 premium vehicles and more than 17,000 executive cars through ‘affiliate partners’.
It will boost annual US revenues to more than £82m per year.