As American As Apple Pie

That good old Greyhound Bus. Or at least it used to be. Now it’s as American as FlixBus.

FlixMobility, the $3 billion-German transportation startup that has doubled down on long distance buses and slowly and quietly gobbled up transit lines and operations across Europe, today announced a big move to raise its game in the U.S. The company announced that it is acquiring Greyhound Lines, the iconic U.S. bus network, from U.K.-based owner FirstGroup. Flix said the deal — which includes a vehicle fleet, trademarks, and related assets and liabilities — has an enterprise value on a debt-free/cash-free basis of $46 million, with an unconditional deferred consideration of $32 million with an interest rate of 5% per annum alongside that.

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