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

  • November 20, 2012
    Mobile on the spot parking enforcement
    Swedish parking equipment manufacturer Cale Group has announced its acquisition of the Dutch Redline mobile enforcement solution, a paper-free solution built on embedded Oracle technology, which enables mobile enforcement officers to issued digital fixed-penalty notices for offences such as parking violations, and process fines. The company will develop and market the Redline system from its newly-acquired office in Woerden, in the Netherlands.
    Read More
  • January 29, 2021
    Opinion: MaaSive fail
    Are we in danger of losing our way on Mobility as a Service? Johan Herrlin of Ito World wonders if there is too much focus on the system and not enough on problem-solving...
    Read More
  • January 25, 2012
    Anywhere card delivers prepaid contactless ticketing
    David Crawford investigates a far reaching initiative in integrated travel. The Port Authority Transit Corporation (PATCO), an operator of high speed commuter rail in the north eastern US, is not one of the world's best known transit providers. Its 13 stations along a single east-west route (three of them interchanges with other regional commuter lines) handle 40,000 passengers a day, travelling to and from Philadelphia, the US' fifth most populous city.
    Read More
  • February 20, 2019
    StreetLight Data maps future
    Laura Schewel of StreetLight Data talks to Adam Hill about the importance of measuring what you do – and about how paint will remain perhaps the most important piece of technology in the city planners’ armoury for a decade to come Transportation is dangerous, responsible for 30% of global cargo emissions today. Some experts believe that it will be responsible for 80% by 2050. And that’s before you even get on to the safety question - just ask tech entrepreneur Laura Schewel. “Transportation is getting wo
    Read More

Highlighted Content