Lyft announced it will acquire Gett’s UK business, the leading London black‑cab app, for approximately $55 million. The deal will transfer Gett’s UK team to Lyft’s Freenow subsidiary, bringing the majority of Greater London’s licensed black‑cab drivers onto Lyft’s platform.
The acquisition follows Lyft’s July 2025 purchase of Freenow’s London operations and represents a capital‑light push into Europe. By adding Gett’s network, Lyft will nearly double the number of rides it can offer in London and strengthen its position against rivals Uber and Bolt.
Gett’s UK operations have been unprofitable for several years, prompting the new owners—a consortium led by Leumi Partners that bought Gett for $188 million in August 2025—to divest the business and focus on its profitable Israeli core. The sale is expected to close in the coming weeks, subject to regulatory approval and customary closing conditions.
Lyft said the transaction will have an immaterial impact on its Q1 2026 earnings and a negligible effect on Q2 2026 results. The company’s existing London portfolio includes Freenow, Santander Cycles, and planned autonomous‑vehicle testing with Baidu, which the Gett acquisition will complement.
Management highlighted the strategic fit: “With Gett, Lyft is expanding its coverage of London’s full ground‑transport ecosystem,” said Jeremy Bird, EVP of Global Growth. The move also positions Lyft to test autonomous rides in London later in 2026, leveraging its partnership with Baidu.
Analysts noted that the deal signals Lyft’s confidence in the London market, but near‑term headwinds such as driver economics and insider selling may temper enthusiasm. The acquisition is viewed as a key step in Lyft’s broader European expansion strategy.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.