Lyft snaps up Gett's UK operations

US ride-hailing giant Lyft has acquired the London taxi operations of Israeli app Gett for an estimated $50 million, according to Israeli financial daily Globes, which broke the story on Friday. 

The deal effectively draws a line under Gett's international ambitions, leaving the company with operations solely in Israel.

Founded by Shahar Waiser, Gett once operated across Russia, the United Kingdom and Israel. 

Its Russian business was shut down following Moscow's invasion of Ukraine, and plans to take the company public were subsequently abandoned.

Last August, Gett was acquired by a consortium of Israeli investors including Leumi Partners, Meitav, Mizrahi Tefahot Bank, Phoenix Financial and Klirmark Capital for $188 million, a group that, the Lyft deal now suggests, views Gett primarily as an Israeli asset.

For Lyft, the acquisition fits into a broader international expansion strategy. The company, long known as Uber's main domestic rival in the United States, also purchased British taxi app Freenow for $234 million, according to PitchBook. Together, the two UK acquisitions signal Lyft's ambition to establish a meaningful presence in the European market.

For now, existing Gett subscribers in the UK can continue using the original app, while Lyft users will access London's taxi network through the American platform. 

The two companies had previously collaborated under a 2019 agreement allowing cross-platform ride ordering in the US and Canada, but that arrangement was terminated several years ago.