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

  • May 8, 2014
    Swarco acquires British traffic group
    Austrian traffic technology group Swarco has acquired the APT group of companies, creating one of the largest traffic and parking management systems businesses in Europe.
    Read More
  • April 1, 2019
    C-ITS in the EU: ‘A little tribal’
    As the C-ITS Delegated Act begins its journey through the European policy maze, Adam Hill looks at who is expecting what from this proposed framework for connected vehicles – and why some people are insisting that the lawmakers are already getting things wrong here are furrowed brows in Brussels and Strasbourg as European Union legislators begin to consider the rules which will underpin future services such as connected vehicles. The idea is to create a regulatory framework to harmonise cooperative ITS
    Read More
  • April 1, 2019
    C-ITS in the EU: ‘A little tribal’
    As the C-ITS Delegated Act begins its journey through the European policy maze, Adam Hill looks at who is expecting what from this proposed framework for connected vehicles – and why some people are insisting that the lawmakers are already getting things wrong here are furrowed brows in Brussels and Strasbourg as European Union legislators begin to consider the rules which will underpin future services such as connected vehicles. The idea is to create a regulatory framework to harmonise cooperative ITS
    Read More
  • July 6, 2023
    Vianova and Michelin deliver on Paris logistics vehicle data
    French capital is looking at how kerb space is used for last-mile deliveries
    Read More

Highlighted Content