“Avis is leaping into the car-sharing service business by buying Zipcar for $491.2 million, aiming to capture a new type of customer and technology that will vastly expand its car rental options.

Car sharing has become a popular alternative to traditional rentals in metropolitan areas and on college campuses, allowing members to get a vehicle for an hour or two for short trips instead of renting a car for a day or using mass transit. The segment has been growing while traditional car rentals have struggled in the current slow-growth economy.

Perhaps it’s now the time to expand your own business by purchasing another one, expanding into new frontiers. Avis has gotten in early on something that seems to only be growing, and purchasing this car sharing company is only the beginning. You can read the whole CBC story here.

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