ALEXANDRIA, Va.--(BUSINESS WIRE)--RideCharge, Inc., the mobile ground transportation leader and developer of industry-leading consumer apps Taxi Magic and Sedan Magic, today announced the acquisition of Aleph Global, an automated dispatch solution provider for the black car and luxury car service industries. RideCharge will combine the mobile booking and payment app, Sedan Magic, with Aleph Global’s dispatch software solution and driver app to create an end-to-end platform for black car fleets and corporate travelers. The deal between two private companies was signed on August 9, 2012 in a transaction payable in cash and RideCharge equity.
“We are excited to add Aleph to the RideCharge family of products and extend their dispatch capabilities throughout our Sedan Magic business,” said Thomas DePasquale, CEO & Chairman, RideCharge, Inc. “By combining the consumer expertise of our award-winning mobile apps with Aleph’s corporate travel management and billing capabilities, we create a winning platform for established black car fleets, corporate travel buyers and sedan passengers.”
Chauffeured ground transportation is an estimated $10 billion market in the United States. Through the Aleph Global acquisition, RideCharge inherits relationships with several corporate travel buyers, including industry-leading banks and financial institutions, law firms, pharmaceutical companies and several other industries. By extending Sedan Magic mobile technology on top of Aleph’s dispatch infrastructure, mobile workforces will book, manage and expense black car rides instantly from their smartphone. Moreover, black car and luxury transportation providers will better serve enterprise passengers by dispatching nearby, available vehicles for faster pickup and providing improved ride management tools.
“RideCharge and Aleph technologies are very complementary. Chauffeured ground transportation companies that serve corporate clients will now have innovative solutions to differentiate their offerings from ride booking to payment,” said Mohammed Sayed, President of Aleph Global Inc. “This will not only improve the passenger experience, it will enable ground transportation providers and their drivers to increase top-line revenues and operate more efficiently.”
RideCharge and Aleph Global provide fleet-centric solutions that automate dispatch, lower operating costs and attract new customers. Aleph solutions support the fleet business model by providing a single platform to manage booking, scheduling, billing, analytics and sustainability initiatives. Sedan Magic mobile technology extends the fleet’s consumer reach, providing seamless mobile and web booking tools, clear pricing and real-time map-tracking to keep passengers informed while decreasing fleet support costs. RideCharge and Aleph Global have been integration partners since 2008.
“We’re excited to combine both Sedan Magic and Aleph capabilities within our back-end systems,” said Shafqat “Sunny” Chaudry, President & CEO, Sunny’s Worldwide Transportation. “The combination of user-friendly mobile technology and comprehensive fleet management tools will allow us to better serve corporate and retail customers, while also better managing our fleet resources and increasing profitability.”
About RideCharge, Inc.:
RideCharge, Inc. creates innovative mobile solutions that improve local ground transportation industries and get people where they need to go. RideCharge’s most renowned product, Taxi Magic, is a mobile software application that has revolutionized the taxi industry by aligning passengers, drivers and fleets for a better overall ride experience. In addition, RideCharge has built the Taxi Magic Passenger Information Monitor (PIM) that supports credit card payment and entertaining video content. In May 2012, RideCharge released the Sedan Magic mobile app to deliver their mobile expertise to the US black car & limousine industry.
RideCharge was founded in 2007 as a platform for business travelers to manage the booking and expensing of taxi rides and other local ground transportation. It soon adopted a broad consumer focus, hastened by the adoption of smartphone technology. RideCharge is based in Alexandria, VA with offices in Boston, MA, Los Angeles, CA & San Francisco, CA and offerings in 50 US cities. The company is venture-backed by travel management software provider Concur (NASDAQ: CNQR) and other strategic investors.
For more information about Sedan Magic, visit http://sedanmagic.com/
About Aleph Global Inc.
Aleph is a global provider of sedan and limousine dispatch systems, and the leading provider of ground transportation technologies in the New York City area, the largest ground transportation market in the world. The company’s customers rely on Aleph for advanced online reservations and billing systems operating as a seamless corporate ground transportation management suite. More than 80% of the New York Metro-Region's Corporate Black Car Service companies and their higher-end limousine and corporate chauffeured service providers, are currently using Aleph CAD, billing and/or Web-Based systems. Aleph provides its customers with innovative, reliable and economically feasible turnkey solutions. For more information about Aleph, visit www.alephglobal.com.
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