Citi Bike gets a Lyft

Lyft, the app-based car service, is expanding into mobility on two wheels with a takeover of Citi Bike.

Lyft bought Citi Bike’s parent company, Motivate, which runs bike share networks in eight cities, including New York, Boston and Washington, the companies announced Monday.

“Lyft and Motivate have both been committed for years to the same goal of reducing the need for personal car ownership by providing reliable and affordable ways to move around our cities,” John Zimmer, Lyft co-founder and president, said in a statement.

“Bringing together Lyft and Motivate will accelerate our collaboration with cities and deliver even better experiences to our passengers and riders.”

Lyft officials did not disclose the cost, but Bloomberg reported last month that the purchase price was $250 million. Lyft, meanwhile, will also maintain Motivate’s city contracts.

With the purchase, the blue bikes will retain their distinctive Citi Bike name.

The sale comes when Citi Bike is expanding in the city with dockless and pedalassist bikes. Citi Bike is one of a dozen companies up for a spot in a city pilot to bring dockless bike share system to Coney Island and the Rockaways.