https://techcrunch.com/2019/03/26/uber-is-paying-3-1bn-to-pick-up-middle-east-rival-careem/

After months and months of rumors it’s finally been confirmed that ride-hailing giant Uber is picking up its Middle East rival Careem in an acquisition deal worth $3.1 billion — with $1.7BN to be paid in convertible notes and $1.4BN in cash.

Careem was founded as a ride-hailing rival to Uber in 2012 but has since diversified its business to include offerings such as food and package deliver, bus services and credit transfers — bolstered via acquisitions of its own, such as RoundMenu and Commut (both announced last year).