Lyft has announced its acquisition of FREENOW, a German multi-mobility app, for approximately $197 million in cash, marking its entry into the European market. This strategic move will significantly expand Lyft's reach, which has been limited to the U.S. and Canada since its inception in 2012. FREENOW operates in nine countries, including key markets like Germany and the UK. The merger is expected to increase Lyft’s addressable market and annualized gross bookings substantially. Both companies aim for a seamless integration of services for riders across North America and Europe.