India, March 5 -- Delivery Hero, one of the leading global online food ordering and delivery marketplaces has announced that it has entered into an agreement with Zomato to buy its food delivery business in the United Arab Emirates (UAE) through Delivery Hero's fully owned subsidiary Talabat Middle East Internet Services Company LLC.
The acquisition will add 1.2 MM monthly orders and USD 2 MM monthly revenue to Delivery Hero's MENA business and will strengthen its leadership position in the UAE. The acquisition will be fully funded by an acquisition facility.
Moreover, Delivery Hero will participate in Zomato's latest funding round by investing USD 50 MM into Zomato's global business to become a Top 10 shareholder and also enter into a ma...