Transport2, the transport management company behind the Coachhire.com platform has announced the acquisition of the business and assets of Momentum Hub Ltd.
The purchase follows a £5.75 million investment from Souter Investments over the last 14 months, which has been put into developing Coachhire.com’s passenger-safeguarding and tracking system for home-to-school services.
Coachhire.com has also developed technology for the Mobility as a Service sector, which it claims brings the group transport industry in line with other high-tech areas of the transportation trade. The platform enhances safety and reduces pollution by enabling data-driven optimisation and provides tracking and notifications about a journey’s progress.
According to Coachhire, the platform employs a “right vehicle, right journey” policy, meaning vehicles with the correct capacity for the journey are used, in turn reducing pollution and congestion.
The platform says the acquisition of Momentum will allow it to provide services to more than 2 million passengers within the corporate, education and leisure sectors via more than 1,500 coach and minibus suppliers on its Preferred Supplier Programme.
Matthew Hassell, CEO of Coachhire.com, said: “This is an incredibly exciting time for us. This deal will provide us with the scale we need to maintain the pace we have set as an innovator and leader within the Mobility as a Service sector. Acquiring the Momentum brand also demonstrates our commitment to becoming the market leader for group transport – achieving our ambition to help passengers share their journeys.
“This move will allow us to put more resources into driving technological innovation. We are ahead of the curve in the group transport industry, making great progress at bringing group transport in line with the technological cutting edge of the transport industry.”