Car rental firm Hertz Global Holdings has agreed to acquire Dollar Thrifty Automotive Group for about $2.3bn.
Dollar Thrifty Automotive is a holding company for Thrifty Car Rental and Dollar Rent A Car, formed in 1990.
Dollar and Thrifty have about 280 corporate locations in the US and Canada.
Hertz has also agreed to sell its Advantage business to Franchise Services of North America (FSNA) and Macquarie Capital.
Terms for the Advantage transaction were not disclosed.
Hertz chairman and CEO Mark Frissora said that the transaction with Dollar Thrifty provides the company instant scale with two new brands with airport concession infrastructure in the mid-tier value segment.
"We'll be a stronger global competitive player with a full range of rental options not only in the US but in Europe and other markets given Dollar Thrifty's strong international presence," Frissora said.
"In addition, we look forward to moving efficiently and swiftly through the regulatory process having reached an agreement to divest our Advantage brand."
Both the transactions are subject to regulatory approvals.