Zomato sells UAE business to Delivery Hero Group for $172 million

Online food technology giant Zomato has sold its food delivery business in the United Arab Emirates (UAE) to the Delivery Hero Group for around $172 million, it is learnt.

In a statement, the Berlin-based food delivery firm announced on Monday it has entered into an agreement with Zomato Media to buy its business via Delivery Hero’s fully owned subsidiary Talabat Middle East Internet Services Company LLC.

“The acquisition will add 1.2 million monthly orders and $2 million monthly revenue to Delivery Hero’s Far East and North Africa business and will strengthen its leadership position in the UAE. The acquisition will be fully funded by an acquisition facility,” the company said in a statement.