2024-01-10 13:59:14
TIER and Dott announce their engagement. In a press release released this Wednesday, the two shared micromobility operators detail their union project, which should be effective in two months. “TIER and Dott today unveil a preliminary agreement to bring the two companies together to form Europe’s leading micromobility operator. The joint entity will continue to operate under the TIER and Dott brands, combining their expertise to provide users and cities with a safe and reliable service as a champion of shared mobility in Europe,” they announce. The transaction is “subject to certain conditions, and will only be effective upon their finalization within two months following this announcement”.
More than 12,000 bicycles in Greater Paris
The merger of the two operators will not result in the disappearance of one of the two apps. “We are keeping the two brands and the two apps,” confides a manager. The two services will continue where they are currently located, it is specified.
The German TIER and the Franco-Dutch Dott are present in Île-de-France and several metropolises in France. In Paris, between them they operate around 12,000 electrically assisted bicycles. TIER has the particularity of being established in 80 municipalities in the Ile-de-France region, around Saint-Quentin-en-Yvelines, in Viry-Châtillon in Essonne, or in Seine-et-Marne, with 5,000 scooters and bicycles outside Paris, serving 57 stations. Currently, discussions are underway to expand the fleet and meet needs during the Paris Olympics.
Company headquarters in Berlin
Together, on a European scale, TIER and Dott generate a combined turnover of “250 million euros, for more than 125 million journeys per year in more than 20 countries”. They operate in particular in Berlin, Brussels, Dubai, Helsinki, London, Madrid, Paris, Rome, Tel Aviv and Warsaw. Their marriage will make it possible to respond to American giants such as Lime or Bolt and to pool operational costs (repairs, battery recharging, etc.).
The operation will be supported by existing shareholders of TIER and Dott, led by Mubadala Capital and Sofina, and including Estari, M&G, Prosus Ventures, Novator and White Star Capital, who are investing €60 million in equity. The future company, whose headquarters will be in Berlin (Germany), will have mixed management from TIER and Dott: Lawrence Leuschner as Chairman, Henri Moissinac as CEO, Maxim Romain as COO and Alex Gayer as CFO.
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