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Avis buying Zipcar in deal worth nearly $500 million

The rental car company will buy Zipcar, a car-sharing business which has flourished as a short-term alternative to traditional, daylong car rentals.

By SAMANTHA BOMKAMP Published: January 3, 2013

NEW YORK — Avis is leaping into the car-sharing service business by buying Zipcar for $491.2 million, aiming to capture a new type of customer and technology that will vastly expand its car rental options.

Car sharing has...

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