Car Rental Company Avis To Buy Zipcar For $500 Million

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http://techcrunch.com – Car rental company Avis has announced its intent to scoop up carsharing company Zipcar for $500 million, with the acquisition expected to close in the Spring of 2013 according to a press release. Zipcar itself went public in April of 2011. “By combining with Zipcar, we will significantly increase our growth potential, both in the United States and internationally, and will position our Company to better serve a greater variety of consumer and commercial transportation needs,” said Avis CEO Ronald L. Nelson in the announcement. ZipCar began the morning of its IPO trading at $18 a (IT news)