Transport Service Giant, Uber, Acquires Middle East Rival
The popular American international transport service company; Uber, has announced plans to purchase its Middle East rival; Careem at a staggering sum of $3.1 billion. By this purchase and acqusition of Careem by Uber, it is its largest acquisition since existence.
Careem operates in 98 cities across Middle East and Southern Asia which makes it a good addition to Uber. The transport service giant, Uber, has also hinted that it will run Careem as a separate entity with some of its Board of Directors taken from Uber and others from Careem.
This mega acqusition will position Uber and help it gain access into Southeast Asian markets, some parts of North African cities among many other markets, where it has no foothold yet.
It is safe to conclude that Uber is gradually closing in on its ambition of becoming a global brand in transport seevices.
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