AirAsia’s Teleport to acquire delivery platform Delivereat
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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.
He said the exercise would provide an opportunity for Teleport to grow its unique logistics ecosystem alongside Delivereat, which has carefully developed an extensive and cost-competitive delivery network over the last nine years.
Questions & Answers
Q.How will Teleport pay for the acquisition of Delivereat?
How will Teleport pay for the acquisition of Delivereat?
Teleport will pay for Delivereat through a combination of cash and its own company shares. The total value of the acquisition is US$9.8mil (RM41.52mil).
Q.What is the primary reason for Teleport acquiring Delivereat?
What is the primary reason for Teleport acquiring Delivereat?
Teleport is acquiring Delivereat to strengthen its delivery service within the country. It also aims to grow its logistics ecosystem alongside Delivereat's established network.
Q.How long has Delivereat been operating its delivery network?
How long has Delivereat been operating its delivery network?
Delivereat has carefully developed and operated its extensive and cost-competitive delivery network over the last nine years.
Q.What is Teleport's relationship with AirAsia?
What is Teleport's relationship with AirAsia?
Teleport is AirAsia’s cargo and logistics platform. It operates as a wholly-owned subsidiary of RedBeat Ventures, which is AirAsia’s corporate venture arm.