Shares of car-sharing company Getaround Inc.
GETR,
rose more than 40% in the extended session Thursday after the company said it plans to buy all of the assets of HyreCar Inc.
HYREQ,
which offers car rentals for gig-economy drivers, for $9.45 million. The acquisition is expected to accelerate Getaround’s “path to profitability,” the company said. The deal is expected to close on Tuesday. The stock ended the regular trading day down 6.2%. Getaround in February announced a restructuring plan, promising to streamline operations and reduce costs “to achieve a leaner path to profitability.” The plan also included layoffs, impacting about 10% of its workforce then.
