MoveByBike Europe AB (publ) (NGM:MBBAB) agreed to acquire unknown majority stake in Bzzt AB on October 12, 2023.The ownership relationship after the deal is completed is not fully determined, but Bzzt's owners will hold a significant percentage of the shares. CEO of the company will continue to be Lisette Hallström. After the acquisition, the current board of MoveByBike will work for an expansion of places where 50 percent are represented by former members of Bzzt's board and 50 percent from MoveByBike. This will create a broader competence base for the group.

Bzzt's board will nominate Sven Wolf as working chairman. The completion of the acquisition is subject to approval at an extraordinary general meeting of MoveByBike.