Vrtucar, Ottawa car-sharing startup, sold

Ottawa's largest car-sharing service, Vrtucar,has been sold to a Montreal-based company.

Calling the sale a "natural evolution," Vrtucar's co-founder said the time was right to sell his company.

Wilson Wood said the saleis good news for Vrtucar subscribers in Ottawa, Gatineau and Kingstonbecause the new parent company,Communauto, is better equipped to implement emerging technologies.

Currently, Vrtucar subscribers can reserve a vehicle from one of 90 stations in Ottawa. Once they pick up the vehicle theypay per hour and kilometre.

It's not something that happens overnight. I've often said, we're a 15-year overnight success.- Wilson Wood, Vrtucar co-founder

Among the changes Wood sees coming under the new ownerare one-way trips and billing by the minute.

"There's a lot of cost in that. And Communauto has already developed that technology" said Wood, who believes that driverless cars will one day be an integral part of car-sharing programs. "It's (about) capacity and ability to respond to changes in the market. These changes are coming."

In a news release, Communauto said it plans to expand Vrtucar's business in Ottawa andGatineau by 10 per centby the end of 2016. The purchase means the company will now be operating in eight cities, including Montreal and Paris.

Co-founder, name to stay

Wood and a partner launched Vrtucar from Wood's basement in 2000 with a single Toyota Echo, eventually growing the business to a fleet of 120 cars and a staff of seven employees. "It's not something that happens overnight. I've often said, we're a 15-year overnight success."

Despite the sale, Wood and all existing Vrtucar employees will remain on staff, with Wood focusing on operations in all eight cities where Communauto operates.

Wood said he's not ready to retire just yet."Because it's so much fun! I want to see how it all turns out at the end."

For now, the company will still be known as Vrtucar in Ottawa,Gatineau and Kingston.Terms of the sale were not disclosed.