Queanbeyan bus operator Deane's has been bought by Cabcharge and an overseas partner for $53 million.
Deane's is the largest bus operator in southern New South Wales and includes services into the ACT.
Taxi payment operator Cabcharge has partnered with Singapore-listed transport operator ComfortDelGro to buy the bus company from the Deane family.
The sale includes the Transborder Express bus services.
The deal underlines Cabcharge's move to diversify its business base.
It says about 70 per cent of Queanbeyan's population works in the ACT, and it expects demand for transport to grow significantly in the next decade.
Pending regulatory approval of the sale, the ComfortDelGro-Cabcharge company will operate a fleet of nearly 1, 500 private buses across the ACT, New South Wales and Victoria.
The acquisition will make the company the largest private bus operator in Australia.
Completion of the transaction is expected to be complete in the coming weeks.
'Conditions guaranteed' The Transport Workers Union says the sale of Deane's Bus Lines and Transborder Express should not have any immediate impact on drivers.
Secretary of the ACT sub branch of the Transport Workers Union, Klaus Pinkas says there are about 80 drivers working for the company and their working conditions have been guaranteed.
"Look in the short term it shouldn't make a lot of difference for our members out at Deane's," Mr Pinkas said.
"Their current wages and conditions have been guaranteed by CDC, the new contractors that are taking over from Deane's." Mayor of Queanbeyan Tim Overall says the sale of Deane's Bus Lines is a boost for the city.
"Clearly I think this acquisition will bring an even stronger capital base to Deane's Bus Lines," Mr Overall said.
"Which all goes well for the future of Queanbeyan, continues to expand and we'll continue to acquire increasing investment by public transport operators."