CMAC Group buys taxi platform Cabfind
07/12/2018|4:49:50 PM|PhocusWire

B2B taxi company Cabfind has been acquired by CMAC Group, a ground transport specialist.

Cabfind offers a seamless end-to-end experience in journey bookings, providing a taxi anywhere in the UK while streamlining travel expense management.

U.K.-based Cabfind has been around since 2002 and was acquired by Transdev in early 2015.

According to a statement the combined companies will have revenues of more than £50 million. Financial details of the acquisition were not disclosed.

Cabfind managing director Lee Wasnidge says: "This change of ownership to a business with a direct focus for growth within the business taxi market will enable the company to be better positioned to compete in the ever-evolving mobility market place."

Cabfind acts as a central point for companies to access taxi as well as business continuity services such as employees requiring transport after being stranded somewhere.

The company wants to further invest in its technology as it continues to expand in the competitive corporate travel market.

Companies such as Uber, Lyft and MyTaxi have gained ground on more traditional players despite cries for a fairer regulatory landscape. 

CMAC already offers a range of transport services including taxis and coaches.

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