Helbiz Completes Acquisition of Wheels



Helbiz, Inc. (NASDAQ: HLBZ), a leader in micro-mobility, said today that the previously announced merger with Wheels Labs, Inc. (“Wheels”) has been completed. The acquisition is projected to boost the Company’s ability to function by expanding Helbiz’s footprint to 67 markets worldwide, creating a more diverse business model, and improving the Company’s financial profiles.

Wheels CEO Marco McCottry, a veteran of the micromobility and shared transportation industries, will manage Helbiz’s North American mobility business, which will power the company’s expansion in the United States. Users of Helbiz will notice options within the app to switch to the Wheels app to rent vehicles. Helbiz will release a fully integrated app in the future months.

According to Business Wire Helbiz Founder and CEO Salvatore Palella comment on this acquisitions-

“I appreciate everyone’s dedication to the deal. Wheels’ assets and industry expertise are invaluable to us. We believe that the acquisition can accelerate our efforts to advance our product development, enhance customer experience, and push our top line and operating efficiency to the next level. This will further solidify our near-term goal of achieving profitability and our long-term goal of disrupting the micro-mobility industry and bringing a sustainable, modern transportation alternative for everyone.”

Salvatore Palella, Founder and CEO of Helbiz

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