Finland’s biggest bus company, Koiviston Auto, has bought the discount bus operator Onnibus.com, the companies announced on Thurdsay. The price of the acquisition, however, was not publicly disclosed.
Onnibus' CEO Lauri Helke said the purchase enabled the combination of "two iconic Finnish public transport businesses."
"Together we are well placed to continue the OnniBus.com growth story as part of the Koiviston group, and we look forward to developing many new business ideas and opportunities," Helke said in a statement issued Thursday.
Onnibus started operations in Finland in 2011 and helped to introduce dynamic pricing schemes that - based on dates and times of travel - offered passengers a range of prices from which to choose.
Advertised bus fares for long-distance journeys - for example between Helsinki and Turku or Tampere - start at around two euros, including one-euro booking fees. The company also sells most of its tickets online - and passengers' moblie devices are usually used as tickets when boarding the buses, in lieu of ones printed on paper.
"Prices will not rise"
Koiviston Auto’s chief executive Antti Norrlin said the Onnibus brand would not disappear.
”With this acquisition, we will gain more expertise in marketing, electronic ticket sales and dynamic pricing,” Norrlin said in a statement, and vowed that prices would not rise after the acquisition.
”Onnibus has managed well thanks to its aggressive pricing strategy. That will continue," Norrlin said
Onnibus has a turnover of about 30 million euros and employs 230 people. The company said it serves more than 300,000 passengers per month and its buses serve customers in more than 120 cities and towns across the country.
Koiviston Auto is based in Lahti and operates 1,000 buses across Finland.