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

  • April 24, 2025
    VW and Uber to launch 'thousands' of AVs in US
    Service is expected to begin in Los Angeles next year, companies say
    Read More
  • October 1, 2019
    Uber bolsters app features to boost micromobility
    Uber is combining its ride-hailing and food delivery apps, while polishing its green credentials and launching a range of new features and partnerships. There is a particular focus on micromobility: bikes and scooters will be displayed on the map inside the ride-hailing giant’s app in 28 cities to make it easier for users to view their options. The company is also expanding its in-app Transit option to include San Francisco, Mexico City and Paris. New Uber Jump bikes and scooters will come with batteries
    Read More
  • August 2, 2018
    WSP to acquire Louis Berger in $400m deal
    WSP is set to acquire US international professional services firm Louis Berger in a deal valued $400m. The transaction will add 5,000 employees to WSP and increase its reach in the US, Europe, the Middle East and Latin America. Through the agreement, WSP intends to continue Louis Berger’s restructuring of its international operations and expects to incur $50m in one-time integration and restructuring costs in the coming years. Alexandre L’Heureux, president and chief executive officer of WSP, says the
    Read More
  • August 28, 2018
    Uber to redirect focus to bikes and electric scooters
    Uber intends to focus more on its electric scooter and bike business as it says individual modes of transport are better-suited to inner city travel. Dara Khosrowshahi, Uber’s CEO, believes users will make more frequent, shorter journeys in the future, the Financial Times reports. "During rush hour, it is very inefficient for a one-tonne hulk of metal to take one person ten blocks,” he says. Uber’s Jump electric bikes are now available in eight US cities such as San Francisco and Washington DC, and are
    Read More

Highlighted Content