Helbiz signs an agreement with MiMoto for the integration of the platforms and the subsequent acquisition

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Thanks to the integration of the assets of MiMoto, a company that operates in the sharing of electric scooters, Helbiz completes the fleet of two-wheeled electric vehicles by presiding over the main Italian cities with a high population density with a green offer: Milan, Rome, Turin, Verona , Genoa, Bari, Pescara, Cesena, Pisa and Latina.

Helbiz Inc. (“ Helbiz ”) announces that it has signed an agreement with MiMoto Smart Mobility Srl (“ MiMoto ”), the first Italian mover in the electric scooter sharing market .

The agreement, which is the first step in the acquisition process of MiMoto, conditioned by the next IPO on the American stock exchange (NASDAQ) by the American company of e-bikes and electric scooters, aims to implement a plan that allows the integration of Helbiz’s platforms for using electric vehicles (bicycles and electric scooters) with those of MiMoto (electric scooters). The acquisition will allow the development of the first sharing application of electric vehicles only with free floating operation able to offer end consumers such a wide range of vehicle types (mopeds, scooters and electric bikes).

“The importance of this agreement – comments Salvatore Palella, founder and CEO of Helbiz – stems from the desire to promote and make available to cities an integrated electric mobility service through the synergy with a company with skills complementary to those of Helbiz and a business branch that saw 100% turnover growth in 2019, with development in strategic cities for Italy such as Milan, Turin and Genoa. The next few months will see an acceleration of the transition to a new electric mobility, as Helbiz we are developing a business model totally in an ESG perspectivetherefore we promote the new environmental and social sustainability policies that the main cities in Europe, the UK and the USA are adopting; I believe it will be essential to promote agile vehicles capable of taking up little space in order not to see our cities blocked by traffic and pollution again. “

“This agreement – unanimously affirm the three founders of MiMoto Alessandro Vincenti , Gianluca Iorio and Vittorio Muratore – is only a first step that will lead MiMoto to be acquired by Helbiz. Together we have a complementary offer and resources and it will be challenging to accelerate the development of a business model focused on agile and green mirco-mobility services. The internationalization processes and the revision of the application are two immediate first steps that will see us engaged with the Helbiz team to allow our users to share electric scooters and e-bikes as well as our scooters. “

The operation just completed follows the assignment of eight new licenses to Helbiz which has been operating since July in the cities of Bari, Cesena, Pescara, Pisa and Latina in Italy as well as Atlanta, Alexandria and Arlington in the USA. MiMoto for its part has recently inaugurated the departure of the Municipalities of Rapallo, Santa Margherita Ligure and Portofino. Thanks to these latest acquisitions, the two companies can count on a fleet of 7,000 electric scooters, 3,000 pedal assisted e-bikes and 1,000 electric scooters, serving approximately 1,200,000 users with micro-mobility services.

As part of the transaction, Helbiz was assisted by Ortoli Rosenstadt and Deloitte Legal for the legal aspects in the USA and Italy respectively. MiMoto was assisted by Inexo for the M&A activities and by Dentons for the legal aspects.

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