REPUBLIKA.CO.ID, JAKARTA -- Online taxi Ojek operator Grab said it has officially acquired the southeast Asian unit of its rival Uber. The founder and CEO of the Grab Anthony Tan said here on Monday Grab would integrate the online taxi and food order service, Uber Eats of Uber in southeast Asia to the Grab's platform of multi-mode and financial technology (Fintech).
"With the merger, Grab would become number one 'mobile platform online-to-offline' in southeast Asia and the main player in food order service business," Tan said.
He said Grab provides safe and reasonably cheap transport service, food order service and packaging dispatch, mobile cellular phone payment service and financial services.
He said Uber would expand its leadership as the most efficient platform in cost in southeast Asia by taking over the assets of Uber in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Under the acquisition agreement, Uber would have a 27.5 percent stake in Grab and Dara Khosrowshahi as a CEO of Uber would join the Grab's board of Directors.
"We are proud that the company which was established in southeast Asia has grown to become part inseparable from the daily activities of millions of consumers and provided working opportunity for more than five million people. The acquisition, announced today becomes a milestone for a new era," he said.
The merger of the business gave birth to a leader in the media and cost efficiency in southeast Asia, he said.
He said in the business of food order service, Grab would expand GrabFood business Grab already has in Indonesia and Thailand with the new units in Singapore and Malaysia to follow the integration of Uber Eats business.
GrabFood would be in operation in all major countries in southeast Asia in the first half of 2018.
Grab will collaborate with the government and other operators of public transport to link public transport service and create integrated multi-mode commuter system, Tan said.
He said Grab's payment and financial services would continue to expand services which cover Grab Financial service such as mobile," micro-financing", insurance and other financial services.
"GrabPay as a mobile wallet would be in operation in all major countries in southeast Asia toward thye end of 2018.
In order to minimize disruption, Grab and Uber would cooperate to facilitate migration driver partners and passenger and customers of Uber and Ubedr East to Grab platform.
"Uber would continue to operate in the next two weeks to ensure stability.
Tan said Uber Eats will continue to operate until end of May until Grabfood takes over its entire activities.
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