Cabfind.com, transport on demand booking platform specialist, has been acquired by Transdev PLC, one of the world's biggest transport operators, as part of their strategy to expand further into the UK for an undisclosed sum.
Cabfind.com, which is headquartered in Wirral, North West England, has developed a technology enabled taxi-on-demand platform. The platform provides managed transport services to more than 120 corporate accounts across the public and private sector via private hire cars and coaches on its impressive UK wide network of 140,000 vehicles, operated by over 2,300 approved suppliers.
Set up in 2005, Cabfind.com is now a wholly owned subsidiary of Transdev PLC. The Cabfind.com software was developed by the company's in-house team of programmers and can be fully integrated into existing travel booking systems. Bespoke versions can be customised using state of the art APIs, including mapping tools and GPS systems and can seamlessly communicate with suppliers' booking platforms.
Clients that benefit from Cabfind.com's online booking and billing platform include Capita, First Great Western, Channel 4 and Her Majesty's Prison Service, making the Wirral based organisation the perfect acquisition for Transdev's UK expansion plans.
Transdev is a multinational private and public transport operator, which moves more than 3 billion passengers worldwide per annum through its multi-modal transport services. Transdev is located in 20 countries across five continents, with €6.6 billion of revenues in 2013.
In the UK, Transdev is a major passenger transport company employing 1,200 staff, operating deregulated bus services in the North of England, aircrew transport services through its Heathrow based CCH subsidiary, and private hire services in London through its greentomatocars and Trident Niven operations. Integrating with Cabfind.com will eventually create a virtual fleet, made up of 140,000 private hire vehicles, coaches and buses, all available on the phone, at the click of a mouse or at the tap of an app.
For Cabfind.com, with £17 million of turnover in 2014, the deal brings inward investment to the UK, will realise its accelerated growth potential and act as the springboard to its ambitious global expansion plans.
Chris Jordan, managing director at Cabfind.com, said:
“The taxi market sector is in a profound state of change, not just in the UK, but throughout the world; in the main brought about by improved technology. In Transdev, we have found a partner which matches our ambitious vision of the future for 'taxi-on-demand' services. This involves working in collaboration with existing taxi and private hire operators, and will enable a fast-track roll out of the five year plan to take Cabfind.com into the consumer space and across the European and American markets.”
“As a family run business based in Wirral, Cabfind.com is proud to bring inward investment to the region and secure current and future jobs for our community.”
Nigel Stevens, CEO Transdev UK and Ireland, said:
“Cabfind.com has an unmatched supplier network across the UK and the team has shown that it is committed to delivering 'taxi-on-demand' services to an impressive client list. We look forward to working with the board to realise the ambitious roll out and further develop the brand across our global network.”
The board of directors at Cabfind.com is retained as part of the deal and has been strengthened with the appointment of Debbie Thompson as commercial director, Jonathan Brennand as operations director, Jenny Procter as finance director and James Gallacher has been appointed to IT director. Cabfind.com founders Chris Jordan and Tim Jordan remain managing director and business development director respectively.