These are two important players in the new mobility that have just announced their merger. Germany’s Tier and France’s Dott, which offer self-service scooters and bicycles, will merge to form a “European champion of micromobility,” the two operators announced on Wednesday, January 10.
Tier, already a leader in Europe, and its competitor Dott indicated in a press release that they had reached “a preliminary agreement aimed at uniting the two companies.”
Union against Lime, Bolet and Voi
The joint entity will continue to operate under the brands Tier (2,000 employees worldwide) and Dott (500 employees), in their respective applications, “with greater convergence possible in the future” to face its competitors Lime, Bolt or See . The company will be based in Berlin, Tier’s homeland.
Tier CEO Lawrence Leuschner will become president of the new company, while Dott CEO Henri Moissinac will serve as CEO. The transaction, subject to certain conditions, will not become effective until spring.
Together, the companies generate a combined turnover of 250 million euros, for more than 125 million trips per year in 21 countries. Tier and Dott operate in Berlin, Brussels, Paris, London, Madrid, Rome, Dubai, Tel Aviv and Warsaw.
Tier is currently the most developed, with 21 countries and 200,000 shared vehicles, compared to 50,000 for Dott, present in 8 countries.
The new company is positioned to “be profitable and support the transition towards more sustainable transportation.”
The transaction will have the support of the current shareholders of Tier and Dott, led by the Emirati funds Mubadala Capital and the Belgian Sofina, and which include the funds Estari, M&G, Prosus Ventures, Novator and White Star Capital, for one sum of 60 million euros.
Source: BFM TV
