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Lyft to Acquire Serveo's Bikeshare Business in Spain

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Lyft (LYFT) said Wednesday its micro-mobility division, Lyft Urban Solutions, intends to acquire Serveo's bikeshare business in Spain.

The business runs bikeshare operations in major Spanish cities including Barcelona, Bilbao, Valladolid and Zaragoza and Lyft said it will continue its role as the technology and hardware provider for all of these programs.

The transaction is not expected to have a material impact on Lyft's financial results, the company said.

Financial terms were not disclosed.

Price: $14.92, Change: $-0.52, Percent Change: -3.37%

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