Daimler’s MyTaxi acquires Greece's Taxibeat for undisclosed amount

Greek taxi hailing app Taxibeat has been acquired by German competitor MyTaxi, which is owned by Daimler. No financials have been disclosed.

Taxibeat, founded in 2011 in Athens, operates throughout Greece and has a small Latin American foothold with operations in Peru. To date it has raised around $7 million.

The deal is believed to have been completed a few weeks ago, reports Venture Beat, and while no figures have been made official, speculation over a potential deal last month tipped the acquisition at around $43 million.

MyTaxi, which Daimler acquired in 2014, has been consolidating the market a lot recently by merging with Hailo. Taxibeat will be integrated with MyTaxi as part of this deal and will likely bolster Daimler’s plans to rival Uber in Europe.

“With the acquisition of Taxibeat, we are investing in the development and growth of urban mobility in Europe,” said Andrew Pinnington, CEO of MyTaxi. “The acquisition is another strategic step in making MyTaxi the biggest, best and most loved taxi provider in Europe — providing everyday magic to millions of Europeans.”