M&A Deal Summary

Careem Networks FZ Acquires Taxiii

On March 17, 2015, Careem Networks FZ acquired internet software and services company Taxiii

Acquisition Highlights
  • This is Careem Networks FZ’s 2nd transaction in the Internet Software and Services sector.
  • This is Careem Networks FZ’s 1st transaction in Morocco.

M&A Deal Summary

Date 2015-03-17
Target Taxiii
Sector Internet Software and Services
Buyer(s) Careem Networks FZ
Deal Type Add-on Acquisition

Target

Taxiii

Rabat, Morocco
website
Taxiii is a taxi and car booking app.

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Buyer(S) 1

Buyer

Careem Networks FZ

Dubai, United Arab Emirates

website


Category Company
Founded 2012
Sector Internet Software and Services
DESCRIPTION

Careem Networks FZ LLC is an online private car booking service serving the greater Middle East region. A pioneer of the region’s ride-hailing economy, Careem is expanding services across its platform to include mass transportation, delivery and payments. Careem’s mission is to simplify and improve the lives of people and build a lasting organisation that inspires. Established in July 2012, Careem operates in 120 cities across 15 countries and has created more than one million economic opportunities in the region.


DEAL STATS #
Overall 2 of 5
Sector (Internet Software and Services) 2 of 5
Type (Add-on Acquisition) 2 of 5
Country (Morocco) 1 of 1
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-05 Enwani

Saudi Arabia

Enwani is a navigation app. Enwani database could make it easier for the drivers to get the clients’ addresses.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-31 Savaree Network

Lahore, Pakistan

Savaree Network is a car share and cab booking service application.

Buy -