E-scooter firm TIER buys Nextbike in bid to expand offerings

FILE PHOTO: E-scooters of Tier Mobility, a start-up for shared micro-mobility services, are parked in Cologne, Germany, July 23, 2019. REUTERS/Wolfgang Rattay/File Photo

BERLIN (Reuters) - Berlin-based e-scooter operator TIER Mobility has bought bike-sharing firm Nextbike to create Europe's largest provider of shared lightweight vehicles, the companies said on Monday.

The deal, which will bring rentable bicycles, e-bicycles, e-scooters, e-mopeds and cargo bikes into one network, could mark the first big acquisition in a likely period of consolidation in the highly fragmented industry, with smaller players getting snapped up over the next 12 months.