New car rental company iFixit has been acquired by a UK company, iFixate, in an all-cash deal.
iFixated, which makes rental car repairs, is owned by the same people behind the online car rental site iDeal.
The deal has been announced on Twitter.
“It’s a great day for us all.
We’ve always loved London and its people and this merger will make the City a better place for us,” iFixat chief executive David Coughlan said in a statement.
“The move to a British business will mean a lot for our customers, as we now have a team in London that understands the local culture and will bring us the best in repair service.” iFixati was founded in 2009 by former staff from the UK’s biggest car rental companies.
The company offers a car rental network, which allows people to rent cars from its carshare service, but also provides car rental services in its own car rental scheme.
iDeal, which was founded by David Croughlan, has a much smaller car rental operation in the UK, with just over 20 staff, but operates from its offices in London.
iFixate said in the statement that the deal was announced in the early hours of Wednesday morning, and that iFixator will remain an independent company.
iFixat said it has signed a deal with a new UK company to bring its car rental business to the UK.
“The merger is an important step forward for the future of iFix, and it’s an exciting time for both companies and the UK,” the statement said.
iFixation, which has been around since 2009, has already partnered with British car rental and car sharing services, and its car rentals are available to UK customers for the first time.
The iFixity deal comes as the number of people renting their own car is set to grow rapidly in the next few years.
It is estimated that by 2025 there will be over 200 million people renting cars in the United Kingdom.
Last month, iDeal announced it would launch its car hire and car-sharing service in the US, with a focus on helping people to get on the road and get on their way to work.
Its services are available in the U.S. and Canada, and will launch in the country in 2019.
In addition to the new deal, iGetaround, which also provides rental car services, is also closing in on a deal to buy the car rental website car-rental.co.uk.
IFixate was founded back in 2008 by the former staff of UK car-lease company iDeal and was later bought by the UK car sharing company Hertz in 2009.
iDeal, the car renting service company, is the world’s largest car rental operator, with over 400,000 UK and global customers.