Audi to Acquire Silvercar Upscale Rental Service

Audi AG, which bought a minority stake in Austin, Tex.-based Silvercar Inc. two years ago, says it intends to acquire concierge-style car rental company outright by mid-year. Terms were not disclosed.

Silvercar touts a proprietary management platform that enables it to deliver seamless, end-to-end personal transportation options in dealership, airport, retail and business settings. Audi has worked with the 5-year-old company, which employs about 150 people, since its inception on services marketed under the Audi mobility, Silvercar and Dealerware brands.

The Silvercar app enables its users to book Audi A4 small sedans at upscale hotels and other locations. The app also unlocks the rental vehicle. Silvercar currently operates in 12 cities in the U.S.