Popular taxi app Hailo is set to rebranded and merged with Mytaxi, a taxi app owned by German car giant Daimler.
Under the deal Daimler, which owns several major car brands including Mercedes-Benz, will take 60% stake in Hailo. Hailo’s shareholders will hold the remaining 40%.
Mytaxi and Hailo are now set to merge, with Hailo rebranding as Mytaxi. Hailo chief executive Andrew Pinnington will lead the newly formed company.
The firm will be headquartered in Hamburg, Germany. Financial terms of the deal, which will create Europe’s biggest smartphone-based cab-hailing business were not disclosed.
Hailo confirmed in a statement covered in the Journal.ie that the newly formed company will operate under the Mytaxi brand.