Avis buying Zipcar in deal worth nearly $500 million

, The Associated Press

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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.

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