Bird Global, Inc. (NYSE:BRDS) acquired Skinny Labs Inc. from TIER Mobility AG for $19 million on September 19, 2023. The purchase price was $19 million, including $10 million in upfront cash, $6 million in a vendor take back and $3 million as a hold back. For the 12 months ended June 30, 2023, Spin delivered approximately $45 million in net revenue, bringing the combined net revenue for Bird and Spin to approximately $265 million for that period. This transaction was supported by MidCap Financial Investment and MidCap Financial Trust, managed or advised by Apollo Capital Management, LP.

Bird Global, Inc. (NYSE:BRDS) completed the acquisition of Skinny Labs Inc. from TIER Mobility AG on September 19, 2023.