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Bosch acquires B2B ride-share SPLT and establishes mobility service arm
German component supplier Robert Bosch has acquired Detroit-based ride-sharing service Splitting Fares which is branded as SPLT, Handelsblatt reports. The purchase has been announced by Bosch, but no details of the transaction amount have been disclosed, the report states. TechCrunch.Com also reports that Bosch is in the process of establishing a dedicated mobility services division. The TechCrunch report states, "The SPLT acquisition is a cornerstone piece of its new focus on mobility services, with the aim of offering everything from shared rides in cars to company buses on the same, easy to use platform with end user smartphone apps and easy ride booking." SPLT will continue to operate independently as a wholly owned subsidiary of Bosch after the acquisition.
Significance: The acquisition of SPLT puts Bosch in direct competition with other ride-hailing companies such as Uber and Lyft, Handelsblatt reports. Bosch will now also be a competitor for the carmakers it supplies components to, as the number of automakers entering the ride-hailing industry is also on the rise. For example, in December 2017 Daimler announced that it had acquired a majority stake in French private hire vehicle service, Chauffeur Privé. The deal is part of Daimler's wider strategy to become a leader in mobility services in Europe. It will join Daimler's growing roster of businesses providing related services such as its car2go car-sharing business and the mytaxi ride-hailing service, as well as its mobility platforms such as moovel.
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