In brief: Delivery Hero to acquire Zomato’s UAE business, invests in India operations

Delivery Hero, a Berlin-based online food ordering and delivery platform, announced that it has entered into an agreement with Zomato to buy its food delivery business in the UAE through Delivery Hero’s fully owned subsidiary Talabat Middle East Internet Services Company.

Source: Press release

According to Info Edge, one of Zomato’s largest shareholders, the acquisition will be worth about US$172 million.

“Zomato and Delivery Hero will enter into a services agreement, where the former will continue to run the business on its own platform,” it said.

Zomato has raised US$105 million from new investors Delivery Hero, Glade Brook Capital, Shunwei Capital, and Saturn Shine as part of its series I fundraising. It raised a total of US$315 million in equity capital for the round, including a US$210 million raise from Ant Financial in October 2018.