Bike Share Leaders Motivate and 8D Technologies Announce Merger
Bike Share Leaders Motivate and 8D Technologies Announce Merger to Wed Best-in-class Technology with Operations
Merger Sets Path for Ten-Fold Expansion of Bay Area’s Ford GoBike, Accelerated Innovation in Bike Share
Facilitated by a Substantial Investment by Generation Investment Management Investment recognizes bike share’s potential to protect climate, enhance urban sustainability
NEW YORK – Motivate – the global leader in bike share operations – is merging with industry-leading bike share technological solutions provider 8D Technologies, the companies announced today. By marrying Motivate’s visionary operational and urban transportation experience with 8D’s award-winning hardware and software, the enhanced company will be able to deliver best-in-class bike share systems and accelerate future innovation.
Motivate manages many of the largest bike share systems in North America , including Citi Bike (New York), Ford GoBike (San Francisco Bay area), Hubway (Boston metro area) and Capital Bikeshare (Washington DC metro area). 8D Technologies powers nearly 40,000 bikes in bike share programs globally including Santander Cycle Hire (London, UK), Bixi (Montreal, Canada), ADCB Bikeshare (Abu Dhabi, UAE) and Melbourne Bike Share (Melbourne, Australia), and already provides the hardware and software for many of the bike share networks that Motivate operates.
Prior to this merger Motivate was on pace to operate nearly 25,000 bikes in systems using 8D technology, by the end of 2017, including the upcoming ten-fold expansion of Ford GoBike in the Bay Area.
Under the merger, Jay Walder will serve as the CEO of the combined companies, 8D co-founder Jean-Sébastien Bettez will join Motivate as the Chief Technology Officer (CTO) and co-founder Isabelle Bettez will join Motivate’s Board of Directors where she will play an important role in the combined company’s strategic decisions and international expansion.
“Bringing Motivate and 8D together will accelerate bike share innovation and bolster our ability to revolutionize the landscape of cities,” said Jay Walder, President and CEO of Motivate and the combined companies. “Jean-Sébastien and Isabelle Bettez are innovators and pioneers who saw how this technology could be applied to bike share to transform how we move in cities. They have been incredible partners and together I know we can take bike share to the next level.”
“This merger is a testament to 8D’s reputation as an innovative, forward-looking organization that delivers solar-based technological solutions,” said Isabelle Bettez, Co-Founder and former CEO of 8D. “We are excited to pursue our international expansion from Montreal and to go forward as an even stronger global player with Motivate.”
The merger was facilitated by a substantial investment in Motivate by Generation Investment Management, a firm with a focus on long-term investments in sustainable businesses. David Blood, Senior Partner at Generation, will join Motivate’s board.
David Blood commented on the transaction “Bikes offer a great way for people to move around cities in a healthy and sustainable way, but individual bike ownership can be challenging. Bike sharing allows more people to use bikes as part of their daily lives. Motivate is a clear leader in operating bike sharing systems, and we are excited to partner with their impressive team as they are working to innovate and lead the growth of the bike sharing market.”
“Generation’s investment is a recognition that bike share has quickly become vital urban infrastructure and has the potential to be a real weapon in the fight against climate change,” said President and CEO of Motivate and the combined companies Jay Walder. “We are thrilled to welcome David Blood to our board and expect that his and Generation’s expertise and experience will help the bigger and better Motivate.”
The merger is being announced as Motivate prepares for a ten-fold expansion of Ford GoBike in the Bay Area. By merging with 8D, Motivate will be able to streamline operations for its client cities starting with Ford GoBike, take control of its supply chain, ramp up production of equipment, seamlessly fuse software and hardware production, and enhance its culture of innovation. Ultimately, this will help Motivate serve more cities and get more people involved with this sustainable and healthy mode of transportation.
Motivate will also continue to work with a multitude of vendors continuing its strong commitment to delivering customized and tailored solutions for the individual needs of each of its client cities.
Motivate is a global leader in bike share. A full-service bike share operator and technology innovator, Motivate works to re-envision how people experience and move around cities. Motivate operates over 50% of the bike share fleet in North America, including five of the ten largest systems in the US: Citi Bike in New York, Divvy in Chicago, Capital Bikeshare in the D.C. area, Hubway in the Boston area, and BIKETOWN in Portland, OR. Motivate also operates Ford GoBike in the San Francisco Bay Area which is beginning a ten-fold expansion to 7000 bikes. www.motivateco.com
8D Technologies is a world leader in the development of the most advanced, intelligent wireless, Machine-to-Machine (M2M), multi-function point of sale (POS) solutions, based in Montreal, Canada. 8D’s unique green urban transportation management and payment solutions include the award-winning city parking system (8D APMS™) and bike share systems deployed on four (4) continents, in the USA (Boston, Jersey City, Minneapolis, New York City, Seattle, Washington DC area), UK (London), Australia (Melbourne), Canada (Montreal), and in the UAE (Abu Dhabi). This solution features 100% solar-powered wireless terminals that can manage both street parking and municipal bike-sharing services. It also features real time wireless payment, remote management and monitoring of all terminal functions and components in wired and wireless environments.
Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research, and client alignment. It is an independent, private, owner-managed partnership established in 2004 with offices in London and New York. Generation Investment Management LLP is authorised and regulated in the United Kingdom by the Financial Conduct Authority.