DLA Piper advises MaaS Global on Wondo acquisition from Ferrovial
DLA Piper has advised MaaS Global on its acquisition of Wondo, an urban mobility platform offering integrated access to multiple modes of transport, from Ferrovial
MaaS Global, a global leading mobility-as-a-service platform and the company behind the award-winning Whim app, has acquired Spanish mobility startup Wondo. As part of the transaction, Ferrovial will become one of the shareholders of reference of the company. Whim and Wondo are both on a mission to transform the global transport sector, which is expected to boom to € 7.6 trillion by 2030. They will provide sustainable mobility in the cities around the world and freedom of mobility for the people.
Whim provides users with all transport services in one app. It allows users to book and pay for all their trips one trip at a time or with a convenient monthly subscription. With over 16 million trips made since its launch in November 2017, Whim is the first all-inclusive MaaS solution commercially available on the market. Whim is currently live in several European and Asian markets and preparing for new launches.
“The acquisition of Wondo enables us to rapidly expand to new markets and increase our B2B and B2C service offering, which is crucial in the rapidly-evolving MaaS market. MaaS is a business of a critical mass, and it requires volume and gravity. This transaction is a prime example that the consolidation of the MaaS industry is now taking place, and we intend to continue playing an active role in it,” said Sampo Hietanen, CEO and founder of MaaS Global. Wondo is an urban mobility marketplace, which provides integrated access to multiple modes of transportation.
“Given our shared DNA, we are thrilled to join forces with the MaaS Global team to contribute to the creation of the leading global MaaS platform. We complement each other’s geographical reach and service offering and have a similar vision on the future developments of the MaaS sector,” added Ion Cuervas-Mons, CEO of Wondo.
Wondo has historically been backed by Ferrovial, a Spain-based multinational focused on transport infrastructure and urban services. As part of the transaction, Ferrovial becomes one of MaaS Global’s strategic investors.
“Ferrovial is very pleased to join forces with MaaS Global to develop a winning value-added proposition in the mobility-as-a-service space. This is another step in the strategy of the company to be at the centre of the changes that are transforming the shape of urban mobility”, said Andres Camacho Donezar, director of Mobility of Ferrovial.
NOR Capital acted as financial advisor to MaaS Global.
The DLA Piper Spain team advising MaaS Global on this transaction was led by Corporate partner Joaquín Echánove (pictured left), with the participation of senior associate Héctor Gómez and associate María Gutierrez, from the same department.
Joaquín Echánove commented: “For this transaction, we have created, in record time, an international and a multidisciplinary team with lawyers belonging to the Corporate/Commercial, Intellectual and Industrial Property and Labour practice areas corresponding to the jurisdictions involved. A full-service team perfectly coordinated and aligned with the client’s interests.”
