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.

UTC

Related Content

  • August 29, 2018
    Toyota and Uber to deploy autonomous ride-sharing service
    Japanese automaker Toyota Motor is investing $500m in Uber as the companies intend to combine their technology to develop an autonomous ride-sharing fleet. Through the agreement, Toyota will deploy a fleet of purpose-built Autono-MaaS (autonomous mobility as a service) vehicles on Uber’s ride-sharing network. The Autono-MaaS vehicles will feature Uber’s autonomous driving system and the Toyota Guardian automated safety support system. Toyota will also utilise its Mobility Services Platform, a core
    Read More
  • February 8, 2021
    Cubic to be bought for $2.8bn
    CTS owner is expected to be sold to private equity firms by the end of June this year
    Read More
  • March 27, 2018
    Dundee trial offers insight into delivering MaaS in smaller urban and rural areas
    A MaaS trial in Scotland will evaluate the attraction of such services for young people living in small cities and rural areas. Colin Sowman reports. It is often said that Mobility as a Service (MaaS) is fine in big cities - but what about smaller towns and rural areas? Well, the city of Dundee in Scotland has only around 150,000 people but is set to provide some answers with its trial of NaviGoGo, a MaaS operation aimed at 16-25 year olds – be they students, working or unemployed. By population, Dundee
    Read More
  • October 30, 2018
    Grab campaign to raise transport safety in south-east Asia
    Ride-hailing company Grab has launched a programme to make its service safer for drivers and passengers in south-east Asia. As part of the Safer Everyday Tech Roadmap initiative, Grab’s analytics tool works with the company’s app to help employees understand how to improve driving behaviour. Drivers also receive telematics reports on speeding, acceleration and breaking as well as reminders from a fatigue monitoring system on how long they have been travelling without taking a rest. Tan Hooi Ling, Gr
    Read More

Highlighted Content