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

  • Verra Mobility to buy Redflex for $113m
    January 22, 2021
    Deal is set to go through in May and will create 'enhanced global reach', says Verra
    Read More
  • An innovation lab – not a burden
    June 27, 2018
    Travellers want to be able to book multimodal journeys easily – and to be informed of problems and alternatives as they go. Adam Roark might just be able to help, finds Ben Spencer. The global shift in transportation towards members of the public wanting access to multimodal journeys is rapidly changing how people pay and plan ahead. Buying tickets from a machine and dealing with the frustration of discovering your train is cancelled is a scenario commuters want to avoid through technology’s ability to
    Read More
  • Aerial ride-sharing coming to South Korea 
    February 16, 2022
    Passengers will be able to access new SK Telecom service via Joby or Uber apps
    Read More
  • Kapsch offers EETS–compliant Tolling Services
    June 7, 2017
    Kapsch’s Bernd Eberstaller explains how the company’s new Tolling Services will help expand the number and capabilities of EETS services providers. By 2017, the European Electronic Tolling Service (EETS) should have been in operation for several years but it still remains some way away and with several significant hurdles still to be addressed. The concept behind EETS is simple enough: road users should be able to drive across Europe using only a single transponder to pay for all tolls, with the account-han
    Read More

Highlighted Content