By Keith Laing - 01/02/13 05:24 PM EST
Zipcar CEO Scott Griffith added that the merger with Avis would be "a win across the board for our members, shareholders and employees.
"We will be well positioned to accelerate enhancements to the Zipcar member experience with more offers and additional services as well as an expanded network of locations," Griffith said.
The companies said Zipcar will operate as a subsidiary of Avis. Griffith promised that the car-sharing service would retain the characteristics that have led to its popularity.
"As the leading global provider of car sharing services, with a brand that is synonymous with the category, we remain committed to the values and vision that have driven us forward for many years, grounded by our passion for delivering a superior experience to every member for every trip, every day," he said. "By combining Zipcar's expertise in on-demand mobility with Avis Budget Group's expertise in global fleet operations and vast global network, we will be able to accelerate the revolution we began in personal mobility."