Enterprise Holdings recently announced its regional subsidiary, the Enterprise Rent-A-Car Canada Company, has acquired Toronto-based Metavera Solutions Inc.

Metavera, a provider of car sharing technology, works to provide transportation technologies to customers in over a dozen countries.

The company was founded in 2000 and primarily offers a car sharing system for independent operators, as well as technology solutions for fleet management and peer-to-peer car sharing.

"For more than a decade, our team has been focused on creating intelligent systems that change the way people drive, and we look forward to continuing that tradition of innovation with Enterprise," said Tony Simopoulos, founder and president of Metavera. "Enterprise shares our commitment to investing in people, communities and sustainable transportation solutions.

"This combination not only is a natural fit for our business, but also a testament to the ingenuity of our employees."

Enterprise Holdings explained it bought the company for its car-sharing technology and industry expertise, which it said will work to support the ongoing evolution of its Enterprise CarShare operation. Terms of the transaction were not disclosed.

"Uniting our business expertise with Metavera's technology and industry-leading talent will enable us to enhance both our technology and the service we offer," said Greg Stubblefield, chief strategy officer and executive vice president for Enterprise Holdings.

Enterprise asserted it will work with current Metavera customers and partners to ensure a smooth transition for all stakeholders, and all Metavera employees will be retained. The company will continue to operate in Toronto.