The German supplier Tier Mobility and its a lot smaller competitor Dott, primarily based within the Netherlands, signed a letter of intent to merge again in January 2024. Now, the merger has been finalised, however with one vital change. Whereas it was nonetheless acknowledged firstly of the 12 months that the mixed enterprise would proceed to function below the Tier and Dott manufacturers, Dott now publicizes by way of LinkedIn: “Tier turns into Dott.”
“We’re excited to announce that TIER Mobility and Dott are becoming a member of forces below a single model and tech: Dott. All TIER customers can be redirected to the Dott app to entry a mixed fleet of 250,000 e-scooters and e-bikes throughout 427 cities in 21 nations,” the submit reads.
All cities can be migrated to the Dott platform by spring 2025. As a part of this course of, the turquoise-coloured Tier scooters may even obtain a brand new livery.
The transaction was backed by a mixture of present buyers from Tier and Dott, who supported the merger financially. Each suppliers need to enhance their prices with the merged constructions. The German Handelsblatt had already written on the time of the announcement in January that Tier was battling a drastically declining firm worth resulting from missed targets final 12 months.
linkedin.com, techcrunch.com