PHILADELPHIA (BRAIN) — Trek Bicycle has agreed to sell its BCycle share bike business to Bicycle Transit Systems, which operates share bike systems in several major cities, including Los Angeles, Philadelphia and Las Vegas. The acquisition is expected to be completed next month.
In addition to operating systems in major cities BTS also provides a customer service center for an additional 24 U.S. cities.
Trek made a strategic investment in BTS in 2016.
BTS will take over 10 share systems from BCycle, including systems in Santa Barbara and Santa Cruz, California; Madison, Wisconsin; and Boulder, Colorado. And BTS will handle bikes, docking stations, and software support for 15 other communities, including Indianapolis, Salt Lake City, Cincinnati, and Milwaukee.
"With greater flexibility and oversight of end-to-end services, we can design real-time solutions to the pressing equity, safety, and climate challenges cities face today," said Bicycle Transit Systems' founder and chair, Alison Cohen. "The bottom line is, this will allow us to better meet our core mission as a company — to deliver the best customer experience possible for riders and advance bike share as a mobility option in the cities we serve."
BCycle'sexecutive director, Brian Conger, will join the BTS leadership team as Chief Business Officer.
Trek President John Burke said, "Since 2008, BCycle has helped millions replace car trips with the climate-friendlier option of bikes ... We're excited for Bicycle Transit Systems to take this mission even further as they continue to grow and make meaningful change for the benefit of our planet and future."
