March 29, 2019 - At a major press conference held at the end of February, BMW and Daimler finalized a historic joint venture that merged the digital mobility platforms of the two automotive heavyweights. This meaningful step to position themselves for the future in times of digitalization has now been recognised by the Börsen-Zeitung in Frankfurt as "Deal of the Year Digital" with the Corporate Finance Award 2018.
In addition to six other categories, the Börsen-Zeitung yesterday (29 March 2019) honored the bundling of the mobility services of BMW and Daimler as "Deal of the Year Digital" in front of around 130 invited guests in Frankfurt. For the jury, the combination of the two mobility portfolios, which was officially presented for the first time about a year ago and finally finalized in February 2019, was seen as a special team achievement and a strong signal.
"Everyone can see which competitors are currently emerging, which is why we have thought about how we will position ourselves accordingly in the future," commented Klaus Entenmann, CEO of Daimler Financial Services AG, on the merger of the mobility services of the two companies. Dr. Nicolas Peter, CFO of BMW AG, also emphasized the special situation of both groups: "Of course, we continue to fight each other hard. We are competitors in many areas. But here, in particular, size, scalability and speed are important and the opponent is not in Stuttgart or Munich. That's why we founded this strong Mobility Powerhouse."
Entenmann also refers once again to the development within Daimler AG, which began more than ten years ago: "With what we provided in the entire area of mobility services, with our commitment to car2go, with the development of moovel, with the acquisition of mytaxi, with the takeover, with all the topics we have been working on. We can be very proud of ourselves. The team delivered a great performance."
Our five Joint Ventures
REACH NOW offers more than 6.7 million users simple, direct access to a range of mobility services through a single multimodal platform. The REACH NOW apps will offer a range of options for getting from A to B, allowing users to book and pay directly for public transport and various other mobility options, such as car-sharing, ride-hailing and bike rentals. REACH NOW will be managed by Daniela Gerd tom Markotten as Chief Executive Officer (CEO), with Johannes Prantl as Chief Financial Officer (CFO).
SHARE NOW is a free-floating car-sharing service that allows customers to rent and pay for vehicles by smartphone — anytime, anywhere. Its fleet will now be extended to incorporate a wider range of models and increase market coverage. More than 4 million customers in total currently use the fleet’s 20,000 vehicles in 31 cities around the world. Car-sharing increases vehicle utilization rates, helping to cut the overall number of cars on the roads in urban areas. Olivier Reppert has been appointed CEO of SHARE NOW, with Stefan Glebke as CFO.
FREE NOW offers a variety of mobility services including taxis, private chauffeurs with rental vehicles, and state-of-the-art e-scooters, all at the tap of a finger. One of the largest ride-hailing services in Europe and Latin America, FREE NOW already serves more than 21 million customers and over 250,000 drivers, who make a valuable contribution to the reduction of traffic in city centres. FREE NOW is headed by Marc Berg as CEO, with Sebastian Hofelich as CFO.
CHARGE NOW is a service by Digital Charging Solutions GmbH (DCS), and its comprehensive charging network is a key contributor to zero-emissions driving. CHARGE NOW makes public charge points quick and easy to locate, use and pay for, both at home and abroad. Digital Charging Solutions GmbH develops simple, standardised access to public charge points for car manufacturers and fleet operators. With over 100,000 charge points across 25 countries, its white-label solutions are helping OEMs and fleet operators to realise their strategies for electric mobility. Customers benefit from cross-border access to one of the world’s largest and fastest-growing charging networks, with over 250 charge point operators (CPOs) to date.
PARK NOW makes parking easier, on-street or off. The innovative digital parking service offers users the best possible parking solutions at a glance, allows them to reserve parking slots and manage their parking times, and enables ticketless entry and exit in public garages as well as cashless payment of parking fees. In addition, with the search for parking currently accounting for about 30 percent of the traffic on urban roads, PARK NOW is helping towns and cities to reduce traffic volumes, thereby helping to make city centres cleaner, healthier and more liveable. In Europe and North America over 30 million customers are already using the service in more than 1,100 cities. CHARGE NOW and PARK NOW are headed by Jörg Reimann as CEO, with Thomas Menzel as CFO.
About the Corporate Finance Award
The award recognizes transactions of the year 2018 that are outstanding in terms of both corporate strategy and financing technology. The size, complexity and originality of the transaction as well as the entrepreneurial approach behind the transaction play a role here. The prize was awarded in seven different categories and a special prize was also awarded for the first time in 2018. All winners: Knorr-Bremse (IPO), Linde (M&A), SAP (Large Caps), Lanxess (Mid/Small Caps), BMW/Daimler (Digital), Henkel (Debt), Cerberus (Private Equity) and Fresenius (Special Prize).