AirAsia’s Teleport buys Delivereat

Teleport chief executive officer Pete Chareonwongsak (pic) said the acquisition would be satisfied via a combination of cash and the company’s shares.

KUALA LUMPUR: AirAsia’s digital logistics venture Teleport has signed an agreement to acquire 100% equity interest in local online food delivery platform Delivereat for US$9.8mil (RM41.52mil) to strengthen its delivery service in the country.

Teleport chief executive officer Pete Chareonwongsak (pic) said the acquisition would be satisfied via a combination of cash and the company’s shares.

Teleport is AirAsia's cargo and logistics platform. It is a wholly-owned subsidiary of RedBeat Ventures, AirAsia's corporate venture arm.