Bosch acquires Detroit-based ride-sharing startup SPLT

Bosch has acquired Detroit-based ride-sharing startup SPLT (Splitting Fares Inc.), marking Bosch's first foray into territory dominated by the likes of Uber and Lyft. Terms of the deal, which was announced Wednesday, were not disclosed.

SPLT was founded in 2015, and claims to have 140,000 users in the United States, Mexico, and Germany. Unlike most other ride-sharing services, SPLT is aimed specifically at commuters who travel the same route every day. Its app pairs people who are going to the same destination, calculates the fastest route, and, as the name suggests, lets riders split the fare like they would when sharing a cab.

SPLT will be an independent entity under Bosch as a wholly owned subsidiary. CEO Anya Babbitt and SPLT's management team will remain in place under Bosch.

Bosch has shown some interest in self-driving cars too, and considering that companies like Uber, Lyft, and Waymo are developing autonomous ride-sharing services, it wouldn't be surprising to see Bosch and SPLT head in that direction.