Hertz Acquires Eileo, Car Sharing Technology Leader

Thu Apr 9, 2009 6:22pm EDT

* Reuters is not responsible for the content in this press release.

  PARK RIDGE, NJ, Apr 09 (MARKET WIRE) -- 
Hertz Global Holdings, Inc. (NYSE: HTZ) announced it has acquired Eileo
S.A., the Paris-based leader in the design and deployment of
best-in-class car sharing technology. Eileo's end-to-end solutions are
utilized by Connect by Hertz, currently operating in London, New York
City and Paris. Terms of the acquisition were not disclosed.

    Mark P. Frissora, Chairman and Chief Executive Officer of Hertz,
commenting on the acquisition, said, "Eileo provides state-of-the-art,
user-friendly technology innovations for the global car sharing industry.
Acquiring Eileo underscores Hertz's long-term commitment to be the car
sharing leader by providing comprehensive, customer-friendly solutions in
this technology-driven business. Eileo will continue to create competitive
advantages for Connect by Hertz and we will also deploy their technology
to create advantages in our car and equipment rental businesses," Frissora
added.

    Arnaud Lejeune, Chief Executive Officer of Eileo, said, "We are proud to
partner with Hertz to deliver future generations of car sharing
technologies and speed up the implementation of our industry vision on two
continents. We share a passion for creating the most user-centric and
enjoyable car sharing experience, which already drives Connect by Hertz
services. While continuing to serve the whole car sharing industry, we are
excited by the opportunity to expand the applications of our technology to
other business platforms," Lejeune concluded.

    Founded in 2002, Eileo has been providing technology solutions to the car
sharing industry which has experienced 25% year-over-year growth over the
past five years. In addition, Eileo also designs technology-driven
solutions for the transportation industry, providing fleet tracking and
monitoring. Over the past year, Eileo's car sharing revenues more than
doubled as the company worked with more than 20 car sharing operators
worldwide. The number of car sharing members Eileo handles increased by
70% over the past six months, with an increase of nearly 50% in the last
quarter.

    Eileo's solution encompasses the entire car sharing process -- from member
registration, to booking, to car access, to invoice and payment functions.
For improving car sharing operator efficiency, Eileo provides a variety of
alert and report functions, and remote vehicle monitoring. A unique,
patented vehicle immobilizer function ensures the safety of each Company's
car sharing fleet. Eileo's proprietary ASP software supports more than 400
features to fit with the most sophisticated business models. Car-embedded
technology includes GPS, GPRS, Bluetooth and RFID technologies, which are
easily installed and non-invasive to the vehicles' overall design and
functionality. Also, the Company's service options include: online
payment, printed smartcards, SMS alerts (text messages) for car sharing
members, in-car hands-free phone assistance, and Bluetooth audio kits.
Packaged with the delivery of Eileo's software and hardware systems,
first-class business services contribute to high performance and
reliability of the system through expert technical support and specific
product development.

    The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc. (NYSE:
HTZ), is the world's largest general use car rental brand, operating from
approximately 8,500 locations in 141 countries worldwide. Hertz is the
number one airport car rental brand in the U.S. and at 42 major airports
in Europe, operating both corporate and licensee locations in cities and
airports in North America, Europe, Latin America, Australia and New
Zealand. In addition, the Company has licensee locations in cities and
airports in Africa, Asia, and the Middle East. Product and service
initiatives such as Hertz #1 Club Gold(R), NeverLost(R) customized,
onboard navigation systems, SIRIUS Satellite Radio, and unique cars and
SUVs offered through the company's Prestige, Fun and Green Collections,
set Hertz apart from the competition. In 2008, the Company launched
Connect by Hertz, entering the global car sharing market in London, New
York City and Paris. Hertz also operates one of the world's largest
equipment rental businesses, Hertz Equipment Rental Corporation, offering
a diverse line of equipment, including tools and supplies, as well as new
and used equipment for sale, to customers ranging from major industrial
companies to local contractors and consumers from approximately 350
branches in the United States, Canada, China, France and Spain.

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