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In a strategic move to capture the food ordering market in the country, online cab aggregator Ola has acquired Foodpanda’s India unit from Germany’s Delivery Hero group, the two companies said Tuesday. The all-stock deal is likely to have valued Foodpanda India at around $40 million. However, there was no official word on the financials of the transaction. The deal includes the transfer of Foodpanda’s India business to Ola in exchange for Ola stock, a press statement said.
In a strategic move to capture the food ordering market in the country, online cab aggregator Ola has acquired Foodpanda’s India unit from Germany’s Delivery Hero group, the two companies said Tuesday. The all-stock deal is likely to have valued Foodpanda India at around $40 million. However, there was no official word on the financials of the transaction. The deal includes the transfer of Foodpanda’s India business to Ola in exchange for Ola stock, a press statement said.
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