Sat. Apr 20th, 2019

The owner of Alsa buys the company that transports the workers of Sillicon Valley

The owner of Alsa buys the company that transports the workers of Sillicon Valley


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MadridUpdated:

National Express, British transport group owner of Alsa, has bought 60% of the capital of WeDriveU, company that is in charge of transporting employees of the bulk of companies implanted in Sillicon Valley, in Califormia (United States).

With this operation, the British company seeks to establish a business division focused on the transportation of workers of large companies, a service that also wants to extend to other centers of great affluence such as hospitals and universities.

According to your calculations, this type of transport generates a business of about 5,000 million dollars (about 4,440 million euros) per year in the United States.

In addition, National Express reinforces the activity that already has in this market, the first of the transport company by revenue ahead of Spain and the United Kingdom

WeDriveU, in addition to providing suttle services to workers of "some of the largest firms" in this area of ‚Äč‚Äčtechnological development, also operates in other cities such as Los Angeles, Seattle, Boston, Portland, Denver and Austin.

The remaining 30% of the capital of this company will remain in the hands of its management team and its CEO, Dennins Carlson, who will continue in the position in order to carry out the expansion plan in which the firm is immersed.

WeDriveU currently transports seven million passengers annually, and closed 2018 with a turnover of 140 million dollars (about 124 million euros) and a gross operating profit (Ebitda) of 21.1 million dollars (about 19 million euros). Its assets are valued at 80 million dollars (about 71 million euros).

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