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4-Traders Homepage  >  Equities  >  Nasdaq  >  Avis Budget Group Inc.    CAR

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Avis Budget Group Partners with RocketSpace to Accelerate Innovation in Mobility

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06/12/2017 | 08:01pm CEST

PARSIPPANY, N.J., June 12, 2017 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ:CAR) today announced that it has teamed up with RocketSpace, a leading technology campus for start-ups and corporate innovators, to identify market opportunities and fuel cross-industry innovation. Avis Budget Group joins a diverse group of global businesses across the mobility value chain, including BP, Allstate, IBM, Magna and Volkswagen, who will collaborate with start-ups on real-life product testing and go-to-market solutions. Innovation areas include automated driver assisted systems (ADAS), on-board vehicle diagnostics and electric vehicle systems.

“In support of our commitment to provide mobility solutions to customers, it is imperative that we focus on emerging technologies and do our part in setting a new standard for mobility and transportation,” said Arthur Orduña, chief innovation officer, Avis Budget Group. “We’re excited to partner with RocketSpace to accelerate innovation by working hand-in-hand with top corporations in the sector and disruptive start-ups.”

“We’re excited to be partnering with Avis Budget Group on this initiative while leveraging their industry expertise and global market knowledge. As our fleet management industry partner, we’re very optimistic that innovative solutions piloted in the program will be implemented and scaled through Avis Budget Group’s network of vehicles,” said Ron Yerkes, vice president of accelerators, RocketSpace.

RocketSpace has fueled corporate innovation programs with over 150 global brands including British Airways, General Motors, Samsung, and Goodyear by tapping into its ecosystem of startups around the world. Its San Francisco coworking campus has been the early home to over 18 unicorns, including Uber and Spotify.

About Avis Budget Group
Avis Budget Group, Inc. is a leading global provider of mobility solutions, both through its Avis and Budget brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world’s leading car sharing network, with more than one million members. Avis Budget Group operates most of its car rental offices in North America, Europe and Australia directly, and operates primarily through licensees in other parts of the world. Avis Budget Group has approximately 30,000 employees and is headquartered in Parsippany, N.J. More information is available at www.avisbudgetgroup.com.

About RocketSpace
RocketSpace is a global ecosystem of people and ideas that provides the necessary velocity — both speed and direction — to help the world's top innovators bring the future to market. Founded in San Francisco in 2011, its global network of technology campuses and services are designed to help tech startups scale. RocketSpace's Corporate Innovation Services team helps fuel global brands' innovation programs by tapping into its ecosystem of startups from around the world. For more information, visit RocketSpace.com, as well as the RocketSpace on Twitter and LinkedIn.

Contact:  Alice Pereira
(973) 496-3916     
PR@avisbudget.com

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© GlobeNewswire 2017
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Financials ($)
Sales 2017 8 777 M
EBIT 2017 598 M
Net income 2017 191 M
Debt 2017 2 878 M
Yield 2017 -
P/E ratio 2017 12,55
P/E ratio 2018 10,19
EV / Sales 2017 0,64x
EV / Sales 2018 0,60x
Capitalization 2 746 M
Chart AVIS BUDGET GROUP INC.
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Avis Budget Group Inc. Technical Analysis Chart | CAR | US0537741052 | 4-Traders
Technical analysis trends AVIS BUDGET GROUP INC.
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 37,6 $
Spread / Average Target 15%
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Managers
NameTitle
Larry D. de Shon President, Chief Executive Officer & Director
Ronald L. Nelson Executive Chairman
Martyn Smith Chief Financial Officer
Gerard Insall Chief Information Officer & Executive VP
Leonard S. Coleman Lead Independent Director
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