German auto giant Audi to buy Austin car rental startup

Silvercar Inc., the Austin startup that allows app users to rent vehicles made by Audi AG, is being bought by the German automaker for an undisclosed amount.
The buyout gives Audi an innovative piece of transportation technology while elevating Silvercar to the global stage with major financial and operational backing. The deal, which needs regulatory approval, is expected to close in the first half of 2017, according to a Thursday announcement.
Audi acquired a minority stake in Silvercar when…

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