Avis Buying Zipcar In Deal Worth Nearly $500 Million

NEW YORK — Avis is leaping into the car-sharing service business by buying Zipcar for $491.2 million, aiming to capture a new type of customer and technology that will vastly expand its car rental options.Car sharing has become a popular alternative to traditional rentals in metropolitan areas and on college campuses, allowing members to get a vehicle for an hour or two for short trips instead of renting a car for a day or using mass transit. The segment has been growing while traditional car rentals have struggled in the current slow-growth economy.Read More…

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Avis Buying Zipcar In Deal Worth Nearly $500 Million

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