The deal would bring the total number of black cabs available to users to 11,500, which is equivalent to half of all the licensed taxis in the city.
The acquisition is still subject to shareholder approval. However, if it goes through it will make Gett the biggest black cab service in the UK.
Radio Taxis started back in 1953 as an owner-driver cooperative, with a headquarters in the basement of flats in Highpoint in North Hill Highgate, using radios as the primary method of communication. The company has gone through numerous transitions, including becoming a part of Mountview House, which handles a telephone center for dispatch.
In the 90’s, the company switched over to GPS satellite technology, eventually building out an app that works similar to other ride-sharing services, but for licensed black cabs.
As part of the Gett deal, Gett would acquire the other two black cab groups under Mountview House, including Xeta and One Transport.
Here’s what Gett had to say about the potential deal:
Radio Taxis has a long, proud history and we are delighted to bring such a great business into the Gett family. Alongside our cutting edge technology it is going to help to make Gett an even more powerful, global force for both our corporate customers and members of the public. This deal will help even more customers get access to our fantastic fixed fares which are always better than the meter – with discounts of up to 30% on the fare they would otherwise pay.
Gett’s revenues are projected to reach $500 million globally in 2016, with a focus on enterprise clients.