Sidecar, the third-biggest ride-sharing service in the U.S., has just been purchased by General Motors, according to Bloomberg. It will officially stop operating on December 31st, 2015.
Around 20 SideCar employees will now work for the automaker, which earlier this year signed a deal with Lyft in order to accelerate the development of on-demand autonomous vehicles.
Sidecar had run into some financial difficulties, but it could definitely help GM become a major player in the ride-sharing and personal mobility business.
The terms of the transaction remain undisclosed. Sidecar has raised about $39 million, according to company spokeswoman Margaret Ryan, which is far less than the capital Uber and Lyft have managed to amass.