AirAsia's logistics arm, Teleport, will be acquiring Malaysian online food delivery platform, DeliverEat in a move to further dominate the logistics space.
According to AirAsia, the acquisition of DeliverEat values Teleport north of $300 million.
Key Highlights
- Penang-based DeliverEat is being acquired by AirAsia for $9.8 million.
- As part of the acquisition, DeliverEat's founders Leong Shir Mein and Tan Suan Sear will join the management team at AirAsia's Teleport.
- Teleport's broader plans are to offer door-to-door deliveries in under 24 hours across the entire Southeast Asia.
- The deal is expected to close by Q3 2021.
Why It Matters
- According to AirAsia CEO Tony Fernandes, the acquisition is part of the group's broader vision to be the best value delivery company in ASEAN — both on-ground and in the air.
- AirAsia aims to build a comprehensive end-to-end logistics chain, from first-mile to last-mile deliveries — a space not fully dominated by rivals Grab and Shopee.
- Earlier last month, AirAsia announced the acquisition of GoJek Thailand's operations.
