As announced in July, Alphabet has acquired ING Car Lease for the sum of €637m, and the transaction was completed on 30 September 2011. Alphabet now has more than 460,000 financed cars under contract (at the end of August) and is represented in a total of 18 countries.

Norbert van den Eijnden, head of Alphabet International and co-CEO, said: ‘Alphabet and ING Car Lease complement each other well in all business areas. It’s a perfect marriage that will open up many new opportunities for the company to become a genuine trendsetter in business mobility.’

Ed Frederiks, former CEO of ING Car Lease and co-CEO, added: ‘Our customers and prospects will benefit from our stronger positioning and we will be able to optimise our portfolio. These two exceptional brands combined will ensure the best possible service and product offerings to our clients across Europe. We are building on the strong expertise and experience from the past to innovate and effectively incorporate sustainability and mobility in fleet management.’

A pivotal aspect of the company’s services is Alphabet’s strengthened multi-make approach across Europe, which offers the customers a wider range of options to meet fleet needs.

‘The next step for the combined business will be to integrate both operationally and culturally. We want to make sure that customers and employees feel comfortable with the combined companies,’ said Mr van den Eijnden.