Bosch is getting on board with the global ridesharing revolution.

The German tech giant has bought American startup, Splitting Fares Inc. (SPLT), which manages a pioneering platform to support a culture of ridesharing for workforces in universities, companies and municipal authorities. The SPLT app connects people to the best group scenario – and the fastest route – via an algorithm, and it is currently used by around 140,000 people in Germany, Mexico and America.

“Increasingly, smartphones are becoming the most important means of travel,” said Dr Markus Heyn, member of the Bosch board of management.

According to Statista, there will be an estimated 60% rise in ridesharing by the end of the decade, with 685 million people taking advantage of the growing trend.

“With this sustainable and affordable mobility service, we want to fundamentally change the way people get from A to B,” added Anya Babbitt, the co-founder and CEO of SPLT.