The deal closed in the beginning of January, with integration of platforms expected to be completed by the end of February. This will result in a single online interface that offers on-demand, near-demand, and future reservation services.
Limos.com has raised over $20 million in equity and has close to three million visitors per year, plus 4.5 million users in its database. Gary Bauer, chairman and CEO, forecasts the venture will generate $65 million to $70 million in earnings for 2017.
“We’re picking up major corporate accounts to drive business to small and medium operators. All leads from iCARS and Limos.com will be pushed to partner operators. You don’t have to be one of the top five operators to get work from these large companies.” He adds that the combined iCARS and Limos.com will now be able to serve more business travelers and leisure clients with executive car service backed by the duty of care that iCARS is built on.
“For the 1,000 operators already signed up with Limos.com, it’s business as usual,” Bauer says, “except they will have more opportunities for leads coming from iCARS, which before the merger, had access to a network of 6,000 limousine fleet vehicles.”
Edward Silver, iCARS president, will oversee the combined operations from its San Francisco-based headquarters.
“For our major travel management companies and corporate accounts around the globe, this acquisition means we can service their needs anywhere immediately,” says Silver. “We work with corporate accounts of all sizes including several that do 75,000 to 100,000 trips per year. I’ve spoken to many of them and all are excited about the combined iCARS and Limos.com venture.”
Silver adds, “We welcome the Limos.com team to our extended family and look forward to serving the marketplace with this new B2B global network.”
Visit icars.cc or limos.com for more information.
ICARS Acquires Limos.com
- Category: Industry News