Uber announces $3.1 billion deal to buy Middle East rival Careem

Uber has reached a deal to acquire ride-hailing competitor Careem for $3.1 billion, the companies announced Tuesday.

Dubai-based Careem, founded in 2012, claims more than 30 million registered users and sells car-hailing services in 120 cities across North Africa, the Middle East and South Asia, from Morocco to Pakistan.

The companies characterized the deal as the biggest-ever technology industry transaction in the greater Middle East..

Sources: https://www.cnbc.com/2019/03/26/uber-to-buy-middle-east-ride-sharing-rival-careem-for-3point1-billion.html