It appears that Lyft Inc. wants to follow Uber Technologies Inc. into the hotly contested bike sharing market.

The Information reported today that the company is in talks to acquire Motivate Inc., a leading player in the nascent industry. The two sources who spoke to the publication said that the transaction could be worth upwards of $250 million. They said that Lyft has agreed to the deal, but the terms are still being finalized.

The move would come just two months after Uber acquired bike sharing startup Jump Bikes Inc. for $200 million. The price tag difference reflects the fact that Motivate has a considerably larger market presence.

The startup operates New York’s Citi Bike program, which provided an estimated 50 million rides in 2017, and the Ford GoBike fleet serving the San Francisco Bay Area. Motivate offers bike sharing services in a total of eight major U.S. cities.

For comparison, Jump Bikes currently has bikes in only five cities. But Uber plans to expand the group’s operations dramatically over time. When the acquisition was announced in April, the company said it intends to start by doubling the size of the startup’s Washington D.C. fleet and rolling out an additional 500 bikes for San Francisco users. Uber is also looking to add the ability for outside companies to sponsor bike programs.

Lyft can be likely expected to launch a similar expansion initiative if the Motivate acquisition goes through. The company seems to be keenly interested in the bike sharing market, with a previous leak suggesting that its efforts have so far focused on San Francisco. Lyft has reportedly approached city officials about getting the necessary permits and even drafted a few scooter designs.

Uber is just one of the rivals that the company could expect to face in the bike sharing market. This segment is also contested by several startups including Bird Rides Inc. and Neutron Holdings Inc. (better known as LimeBike), both of which have raised over well over $100 million in funding.

Image: Lyft