Avis is buying Zipcar for $491.2 million, expanding its offerings from traditional car rentals to car sharing services. Zipcar, founded in 2000, has more than 760,000 members. It went public in 2011 and posted net income of $850,000 in the first nine months of this year.
Avis buying Zipcar in deal worth nearly $500 million
The Associated Press
January 2, 2013