SINGAPORE: Grab, Uber Technologies Inc’s biggest rival in South-East Asia, will acquire Indonesian e-commerce startup Kudo for an undisclosed amount, striking its first deal since pledging to invest US$700mil in its largest market.
The purchase is aimed at beefing up payment services while expanding its reach across South-East Asia’s largest country. The Singapore-based ride-hailing firm also announced it’s hiring former Euronet Worldwide Inc executive Jason Thompson to head GrabPay.
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