Uber sells to rival Grab

TWO of the biggest ride-hailing apps in Asia are joining forces.

Grab announced on Monday, March 26, that it acquired Uber's Southeast Asia operations. They are calling the deal "the largest ever of its kind in Southeast Asia."

Grab will integrate Uber's ridesharing and food delivery business in the region into Grab's existing multi-modal transportation and fintech platform.

"With the combined business, Grab will drive towards becoming the #1 online-to-offline (O2O) mobile platform in Southeast Asia and a major player in food delivery," Grab said in a statement.

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