Subject to shareholder and regulatory approvals, the rental car firm expects to close the transaction this spring. "By combining with Zipcar, we will significantly increase our growth potential, both in the United States and internationally, and will position our company to better serve a greater variety of consumer and commercial transportation needs," according to Avis Budget Group chairman and CEO Ronald Nelson. "We see car sharing as highly complementary to traditional car rental, with rapid growth potential and representing a scalable opportunity for us as a combined company." Rental car firms in recent years have worked to
incorporate car-sharing technologies into their businesses, and Avis Budget expects "to leverage Zipcar's technology to expand mobility solutions under the Avis and Budget brands," according to Nelson.