Taxi app Hailo is to merge with its German equivalent mytaxi - a subsidiary of Daimler Mobility Services.
The new entity will be Europe's largest taxi e-hailing company with around 70 million passengers and 100,000 registered taxi drivers operating in nine countries.
At present, Hailo operates in Ireland as well as the UK and Spain, while mytaxi is available in Austria, Germany, Italy, Poland, Portugal, Spain, and Sweden.
The newly formed company will operate under the mytaxi brand and will rebrand all Hailo operations here, in the UK, and Spain by mid 2017.
Current Hailo Chief Executive Andrew Pinnington will be appointed CEO of the new company and Niclaus Mewes - founder of mytaxi - is taking a seat on the supervisory board and in addition he will become Managing Director of Daimler Mobility Services.
He will play a central role in the integration and strategic development of the new mytaxi company.
CEO designate of mytaxi Andrew Pinnington said: "By combining Hailo and mytaxi, we have created the largest European taxi e-Hailing company.
"We bring together world class technology, an iconic brand, high quality people and the financial backing of our shareholders."
The announcement of the proposed combined business is subject to the approval of the European Regulatory Authorities and a decision is expected in the coming weeks.
