TIER and Dott have announced today the closing of a financial transaction to merge the two companies, as announced in January 2024. With revenues of €250m, supporting over 125 million trips a year in more than 20 countries, the newly combined business creates the European champion of shared micro-mobility.
Following the closing of the transaction, teams across TIER and Dott will be progressively integrated, with details of the new strategy to be announced in the coming weeks.
Henri Moissinac, CEO, TIER-Dott, said: “The closing of this transaction marks the start of an exciting new chapter for both TIER and Dott. We are focused on uniting our teams under the goal of running responsible operations for users, cities, and the environment, helping to lower car use by offering a reliable and sustainable alternative.”
Riders can continue to access TIER and Dott vehicles through their respective apps, with more convergence possible in the future.
News of the merger came less than 24 hours after Dott announced that it had withdrawn its e-scooter service in London. A Dott spokesperson blamed the decision on what it called “poor regulation in the micromobility market”.
(Picture – Dott)
