It’s in the news today. Ola, India’s largest on-demand taxi service, has acquired FoodPanda India (from its parent company Delivery Hero) in a stock-swap transaction. FoodPanda is in food delivery business (like GrubHub in US or Delivery Hero in Europe).
Ola’s Founder and CEO said the usual acquisition-related things in a press release.
I’m excited about our partnership with Delivery Hero as we team up to take Foodpanda India to the next level. As one of India’s pioneers in the food delivery space, Foodpanda has come to be a very efficient and profit focused business over the last couple of years. Our commitment to invest $200mn in Foodpanda India will help the business be focused on growth by creating value for customers and partners. With Delivery Hero’s global leadership and Ola’s platform capabilities with unique local insights, this partnership is born out of strength. ...