GERMANY’S Delivery Hero has agreed to buy South Korea’s top food delivery app operator Woowa Brothers for US$4bil (RM16bil) and form a joint venture to take on heavyweights like Uber Eats in other fast-growing Asia markets.
The deal, announced last Friday by Woowa, is the biggest global play so far for a food delivery app, one of the hottest tech sectors around. Woowa said the sale was “a survival strategy” in an intensely competitive market and also the biggest deal involving a South Korean internet firm.
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