InterRide Corporation, the first real-time, online reservation infrastructure available to the limousine, sedan and corporate travel service industry, today announced its acquisition of TranspoNet, the largest provider of software and business systems for the limousine and car service industry.
Terms of the transaction were not disclosed. The combined companies create a business that now offers a strong and integrated platform of proven products and leading-edge technologies that is focused solely on the limousine and car service industries, an estimated market of $9 billion.
The acquisition by InterRide furthers the company`s position in one of the fastest growing markets, the online travel bookings market, which is estimated to reach $20.3 billion by 2004, according to Forrester Research.
The combined companies will serve over 400 clients who will now be able to take advantage of integrated technologies, in both off-line and online environments. InterRide, based in New Jersey and founded 2 years ago, is the first and only vendor-neutral infrastructure company to use Internet technology to deliver online, real-time, industry-wide reservation and confirmation systems for car and limousine services to corporations across the country.