Zipcar Sold to Avis Budget for $500 Million

Avis Budget Group reached a deal on Jan. 2 to purchase car-sharing company Zipcar for $500 million.

A Zipcar-owned Mini Cooper is seen driving past the Palace of Westminster in London, England. On Jan. 2, Zipcar was acquired in a $500 million deal by car rental giant Avis Budget. Scott Barbour/Getty Images