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

Related Content

  • August 8, 2017
    Considering accessibility costs little and pays dividends for all travellers
    Catering for those with disabilities can be cost-effective and improve services for all travellers, as David Crawford discovers. Clearer understanding of the economic value of accessible transport is essential if we are to speed up the current slow deployment levels, according to the Paris-based International Transport Forum (ITF), which staged a 2016 round table on the ‘Benefits and Costs of Inclusion in Transport’. It wants to see greater availability of data on levels of actual and unmet demand for acces
    Read More
  • May 18, 2018
    New ANPR solutions overcome variables
    The sheer range of variables makes it difficult to find a single algorithm to ensure a 100% standard of ANPR. David Crawford investigates new processing technology. Automatic number plate recognition (ANPR), using optical character recognition and image-processing to identify vehicles, plays key roles in traffic monitoring and law enforcement, access and parking control, electronic toll collection, vehicle security and crime deterrence. Overall, system performance is well rated, with high levels of
    Read More
  • April 1, 2016
    Record-breaking year for US toll facilities, says IBTTA
    Last year (2015) was a record-breaking year for toll road, bridge and tunnel usage according to a new report from the International Bridge, Tunnel and Turnpike Association (IBTTA). The National Toll Facilities Usage Analysis found that drivers' use of toll roads increased by seven per cent between 2014 and 2015, a record-breaking rate of growth that puts tolling usage on pace to double in less than ten years, says IBTTA. The analysis was compiled by collecting data from 31 toll-operated facilities acros
    Read More
  • December 20, 2017
    MaaS Market Conferences on both sides of the Atlantic in 2018
    Momentum shift in prospect as authorities accelerate plans to rethink transport provision. TS International’s second, two-day international MaaS Market conference takes place on 20 and 21 February 2018. The Mobility as a Service (MaaS) event is ideal for all organisations exploring new ways of getting people to their destination and new methods for them to pay for transport services.
    Read More

Highlighted Content