The report in the last week that Uber may soon learn about the acquiring company Careem, a company that considers its main rival in the Middle East. It turns out that that report is accurate, it has confirmed Uber yesterday that it has acquired officially on the company Careem compared with 3.1 billion USD. The company was founded Careem in 2012 and has expanded rapidly in markets across the Middle East, North Africa and South Asia. Developed service by taking into account the local customs, which led to the emergence of Careem as a strong contender to buy the Uber in these markets.
Indicate the terms of the agreement that Uber will be $ 1.4 billion in cash to acquire Careem in addition to the $ 1.7 million in bonds. The deal is subject to Relations of the executive body currently, but expect Uber to close this transaction by the first quarter of next year.
Through the acquisition of these, will capture Uber all the work of Careem in the field of transport and delivery and throughout the Middle East region, including other key markets such as Pakistan, Egypt and Jordan.
Once the deal closes, the company will continue to Careem as a wholly owned subsidiary of Uber, but will work independently. Will the co-founder of Careem and managing of the company, Mr. Mudassir Sheikha in the driving seat of the company.