Dubai-based technology firm Careem, which is in the process of being acquired by the US’ Uber Technologies, has expanded its operations into its third city in Iraq.
The ride-hailing service is now available in Mosul, following the launch of the service in Baghdad and Najaf last year.
The firm says it is also currently running a pilot in Erbil. MEED understands private taxis licensed by the Mosul Transport Ministry will be available via the Careem app.
“Having been in Iraq since January 2018, Careem has identified local market nuances and has developed solutions to overcome them,” the firm said in a statement.
These solutions include complementing Google Maps’ work with over 15,000 locations and an option allowing customers to book a ride via WhatsApp.
A ‘lighter’ booking option via WhatsApp is now available in Baghdad and will be rolled out in Mosul soon.
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By GlobalDataThe UAE’s Economy Ministry (MoE) approved the acquisition of Careem by Uber Technologies in June. The $3.1bn acquisition, consisting of $1.7bn in convertible notes and $1.4bn in cash, was announced in March.
Under the UAE’s Competition Law, ministerial approval is required before the completion of a merger or acquisition to ensure it “does not lead to the dominance or control of the corresponding markets … at rates exceeding the percentages stipulated by law.”
Both firms said in March that they expected to close the transaction in the first quarter of 2020.
Upon closing, Careem will become a wholly-owned subsidiary of Uber, preserving its brand.
Uber will acquire all of Careem’s mobility, delivery and payments businesses across the Middle East region. In addition to the UAE, Careem has major operations in Egypt, Jordan, Pakistan and Saudi Arabia.
MEED
This article is sourced from Power Technology sister publication www.meed.com, a leading source of high-value business intelligence and economic analysis about the Middle East and North Africa. To access more MEED content register for the 30-day Free Guest User Programme.
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