Uber to buy Dubai rival Careem for $3.1 billion

Uber is to acquire Dubai-based rival Careem for $3.1 billion in a move that will expand its presence in the Middle East, Africa and Asia. The deal would allow Uber to acquire Careem’s mobility, delivery and payments in countries from Morocco to Pakistan. Dara Khosrowshahi, Uber CEO, says: “This is an important moment for Uber as we continue to expand the strength of our platform around the world.” Uber says the transaction will speed up the delivery of digital services to people in the region through t
March 27, 2019 Read time: 2 mins

8336 Uber is to acquire Dubai-based rival Careem for $3.1 billion in a move that will expand its presence in the Middle East, Africa and Asia.

The deal would allow Uber to acquire Careem’s mobility, delivery and payments in countries from Morocco to Pakistan.

Dara Khosrowshahi, Uber CEO, says: “This is an important moment for Uber as we continue to expand the strength of our platform around the world.”

Uber says the transaction will speed up the delivery of digital services to people in the region through the development of an app that offers services such as Careem Pay, a digital payment platform, and a last-mile delivery service called Careem Now.

Once the transaction is closed, Careem will become a wholly-owned subsidiary of Uber but will maintain its own brand and be led by its co-founder and CEO Mudassir Sheikha.

The deal, subject to the usual regulatory approvals, is expected to close during the first quarter of 2020.

Urban Traffic Control

For more information on companies in this article

Related Content

  • Agero to sell connected vehicle services division
    August 19, 2013
    Agero has entered into a definitive agreement under which SiriusXM Radio will acquire Agero's connected vehicle services division in a deal worth US$530 million. Agero’s connected vehicle unit provides telematics services such as roadside assistance, consumer affairs and claims management services, for driver and automobile makers. The deal is slated to close in the fourth quarter 2013 and will enable the company to continue to accelerate the development and delivery of new services to enhance its leadershi
    Read More
  • Moovit and Distribusion team up for travel
    January 29, 2025
    Network of European transport operators will be connected to mobility app
    Read More
  • Airly cleans up with $5.5m funding
    November 18, 2022
    Air quality platform provides data infrastructure to allow cities to reduce pollutants
    Read More
  • Funding shortfall for US Interstate upgrades
    May 11, 2012
    Andrew Bardin Williams investigates tolling on the federal Interstate system as maintenance and upgrade requirements increasingly outpace funding The I-95 corridor through North Carolina is one of the most heavy trafficked interstates in the US, seeing upwards of 46,000 vehicles per day in some stretches-and North Carolina’s Department of Transportation (NCDOT) estimates this number will to rise to 98,000 vehicles per day by 2040. Along with the rest of the federal interstate system, the North Carolina str
    Read More

Highlighted Content