SOURCE: Bicycle Transit Systems

Bicycle Transit Systems

SOURCE: BCycle

BCycle

December 13, 2016 10:00 ET

BCycle and Bicycle Transit Systems Form Strategic Alliance

New alliance combines best-in-class bike share systems with operational excellence

MADISON, WI and PHILADELPHIA, PA--(Marketwired - December 13, 2016) - Bicycle Transit Systems (Bike Transit) and BCycle have signed a strategic alliance agreement to cement the relationship of the industry-leading bike share operator and equipment provider. Since 2015, the companies have implemented four bike share systems together: Philadelphia's Indego bike share, Los Angeles' Metro Bike Share, Las Vegas' RTC Bike Share and Oklahoma City's Spokies bike share (relaunch). As part of the strategic alliance, BCycle's parent, Trek Bicycle, is making an equity investment in Bike Transit.

"I am elated to cement this relationship with BCycle and Trek, as we are both best-in-class bike share service providers, and committed to creating an optimal bike share customer experience," said Alison Cohen, President and CEO of Bicycle Transit Systems. "I am proud to team with BCycle, a company with strong financial stability, highly professional operations and people who share our key values of under-promising, over-delivering and acting with integrity, honesty and kindness in all dealings."

This transaction will allow the two companies to offer communities in the US and internationally world-class, premium bike share operations, equipment, software and service. Trek's investment ensures financial stability for the company, as well as the ability to rapidly expand current systems and launch new systems.

"We are committed to finding additional ways for even more communities to introduce bike share to their residents and visitors," Burns said. "Bike Transit's proven leadership in bike share operations is undeniable. Our experience with them has been extremely positive, and we can't wait to work together to offer even more communities an integrated bike share ecosystem that furthers the bicycle's -- and bike share's -- role in public transit."

The strategic alliance allows for collaborative product development and operations to ensure that cities receive a system that works best for their needs, starting with a seamless install to consistent operations and customer service. Cities looking to bring bike share to their communities can now enjoy the benefit of "one stop shopping" by working with BCycle and Bike Transit through this new strategic alliance. BCycle will provide the hardware and software while Bike Transit will provide full-service operations.

BCycle currently has more than 1,290 stations and 11,000 bikes on the ground in 43 communities in North and South America, while Bike Transit operates bike share programs in Philadelphia, Los Angeles, Oklahoma City and Las Vegas.

About Bicycle Transit Systems

Bicycle Transit Systems is a leader in bike share system implementation and operation. We have the most experienced team in the US in launching bike share programs of all sizes. Based in Philadelphia, PA, Bicycle Transit Systems manages Philadelphia's Indego bike share, Los Angeles' Metro Bike Share, Las Vegas' RTC Bike Share and Oklahoma City Spokies. Before forming Bike Transit, the company's founders launched and expanded the earliest and largest bike share programs in the US. Bicycle Transit Systems provides hands-on operation of bike share systems for large and small bike share systems. The company's mission is to make bike sharing a safe, easy, accessible and enjoyable way to get around.

About BCycle

Headquartered in Waterloo, Wisconsin, BCycle develops and delivers best-in-class bike share systems worldwide, and is committed to providing an environmentally sustainable transportation alternative for cities. BCycle has successfully launched more high quality bike sharing systems in the United States than any other company, and has done so on time and under budget with bike share ecosystems which are secure, reliable and scalable. For more information, visit www.bcycle.com.

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