Singapore-based ride-hailing company Grab officially announced that it has acquired Uber’s Southeast Asia operations.
Grab, which celebrated its five-year anniversary in 2017, plans to integrate Uber’s ridesharing and food delivery tech into its own existing multi-model transportation platform.
The acquisition includes Uber’s assets in Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. Additionally, Uber now holds a 27.5% stake in Grab and Uber CEO Dara Khosrowshahi will sit on Grab’s board.
The two companies are working together to seamlessly integrate Uber’s drivers and riders onto Grab’s app.