BMKP, an online cab-hailing service provider based in Wuhan East Lake High-tech Development Zone (Optics Valley of China), announced on Dec 10 that the company has recently finished the merger and acquisition of Wuhan Shenglong Car Rental Company.

It is the first time that an online cab-hailing company has carried out the merger and acquisition of a traditional taxi company. 

The platform BMKP will hold 51 percent of shares of Shenglong, and all 254 taxis from Shenglong will be under the network-based management of BMKP.

In June this year, BMKP got the country's sixth license for providing online cab-hailing services, also the first in central China. It has set up branches in 154 cities around the country, and has overseas operations in 18 countries and regions.

BMKP plans to acquire more taxi companies before Spring Festival in 2018. It is estimated that the first batch of 1,000 taxis will become part of the company, with the number eventually exceeding 5,000 in Wuhan in the near future.

Representatives of BMKP and Wuhan Shenglong Car Rental Company sign a M&A agreement. [Photo/Hubei Daily] 

Cars owned by BMKP, an online cab-hailing service provider based in Optics Valley of China [Photo/Hubei Daily]