Lyft Expands into Europe with €175M Acquisition of FreeNow
Deal News | Jul 01, 2025 | Iberian Lawyer
Lyft, the U.S. ride-hailing company, has announced the acquisition of Intelligent Apps GmbH for €175 million, now taking full ownership of the operations of FreeNow, a taxi and TVDE booking platform. The transaction was steered by Baker & McKenzie, with Portuguese legal advice from Abreu Advogados on the buyer’s side, handling comprehensive due diligence and various legal facets. DLA Piper provided advisory services to the sellers, BMW Group and Mercedes-Benz Group. This acquisition marks Lyft's significant move into the European market, aiming to expand its service offerings, including car rides, bicycles, and scooters across numerous European countries such as Germany, the UK, France, and Spain. This expansion is one of Lyft's most notable market entries outside North America, estimated to almost double its market size to over 300 billion vehicle trips annually.
Sectors
- Transportation and Logistics
- Legal Services
Geography
- United States – Lyft is a U.S. company making a significant international expansion.
- Germany – As the home base for FreeNow's operations.
- Portugal – Legal advice was provided by Abreu Advogados based in Portugal.
- Europe – FreeNow operates in multiple European countries, and the acquisition is a major move for Lyft's European expansion.
Industry
- Transportation and Logistics – The acquisition is directly related to the ride-hailing and mobility service industry, impacting how personal and shared vehicle trips are conducted across new European markets.
- Legal Services – Multiple law firms were involved in advising the transaction, highlighting the importance of legal counsel in international M&A actions and regulatory compliance for the acquisition.
Financials
- €175 million – The acquisition price paid by Lyft to acquire 100% of Intelligent Apps GmbH.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Lyft | Buyer | Company | A U.S.-based ride-hailing service expanding into the European market through acquisition. |
| Intelligent Apps GmbH | Target | Company | The company operating FreeNow, a taxi and TVDE booking platform. |
| BMW Group | Seller | Company | One of the joint operators of FreeNow prior to the sale. |
| Mercedes-Benz Group | Seller | Company | One of the joint operators of FreeNow prior to the sale. |
| Baker & McKenzie | Legal Advisor | Company | Provided legal advice to Lyft on the acquisition. |
| Abreu Advogados | Legal Advisor | Company | Portuguese legal firm advising Lyft on aspects of due diligence and compliance. |
| DLA Piper | Legal Advisor | Company | Advised BMW and Mercedes-Benz on the sale of FreeNow. |