Via Transportation Inc. has acquired mapping software maker Remix for about $100 million, Via’s chief executive said in an interview, as the New York-based company seeks a larger slice of the new market bringing together ride-sharing and public transportation.
The deal is the third acquisition over the past several months for Via, which is bidding to play a central role as cities, transportation authorities and universities rejigger their transportation offerings in the wake of the coronavirus pandemic. The cash and equity deal comes almost two years after Via first became interested in buying Remix, said Daniel Ramot, Via’s CEO and co-founder.
San Francisco-based Remix, which was founded in 2014, has software that uses data to help cities plan their transportation routes and make decisions on such things as where to put one-way streets, bike lanes or special lanes for emergency services. Remix investors cashing out as part of the deal include venture-capital firm Sequoia and Y Combinator, a Silicon Valley startup accelerator.
A year ago, the pandemic threw into doubt the future of Via and public transportation. Lockdowns kept people at home and would-be riders shied away from busses, subways and trams for fear of catching the virus in closed spaces. Large cities are still working to assuage riders’ fears, a key step needed before economies around the world can fully reopen.
“Last summer, it became clear that…existing transportation systems were too rigid and weren’t working,” said Mr. Ramot.
