Uber Technologies Inc. today announced a deal to acquire Jump Bikes Inc., a venture-backed startup competing in the rapidly growing field of bicycle sharing.

The financial terms of the deal were not disclosed, but TechCrunch cited a source close to the situation as saying that the price tag was about $200 million. The report follows an earlier leak that suggested Jump was weighing whether to accept Uber’s buyout offer or raise a new round of funding instead.

The deal signals the ride-hailing giant’s intent to expand its focus beyond cars to other forms of transportation. The New York-based startup, which is set to operate an as independent subsidiary under Uber, operates electric bikes throughout 12 cities that consumers can book via a mobile app much like how they would hail an Uber ride. Instead of having a car arrive to their location, however, the user receives a PIN that allows them to unlock a nearby bicycle.

Jump’s bikes also have a couple other noteworthy features. They have a battery-powered “pedal assist” mechanism to make rides smoother, and they’re dockless, meaning that a user can leave a bike practically anywhere instead of specifically designated locations. These features likely played role in helping Jump catch the attention of Uber, which made the startup’s bikes available to San Francisco residents via its app earlier this year.

Jump’s operations are set to expand considerably in the wake of the acquisition. The New York Times reported that the startup plans to double its current 200-strong fleet in Washington D.C. over the next few months, as well as make a total of 500 bikes available to San Francisco users by September.

Uber has big plans for Jump. Chief Executive Officer Dara Khosrowshahi told the Times that Uber will initially own and maintain the bikes, but may later introduce the option for other companies to finance them. That would presumably appeal to employers looking to ease workers’ commute. Khosrowshahi added that the data Uber collects from its ride-hailing network will enable the company to optimize where bicycles are placed for the sake of improving utilization.

“We’re committed to bringing together multiple modes of transportation within the Uber app — so that you can choose the fastest or most affordable way to get where you’re going, whether that’s in an Uber, on a bike, on the subway, or more,” Khosrowshahi wrote in the blog post announcing the deal.

Based on the last part of the post, Uber may eventually even become involved with public transportation. The acquisition of Jump makes clear that the ride-hailing giant hasn’t given up on its expansion ambitions despite its recent push to exit certain non-core markets.

Image: Uber