EMPG and OLX Group announced the merge between the two companies for their businesses across many countries. They also announced that the agreement includes a 150$ million investment round.
Imran Ali Khan, CEO and co-founder of EMPG, said:
“This deal puts us one step further in our journey towards providing solutions in multiple markets to over a billion consumers around the world, expanding our classifieds offering significantly”.
After this deal, besides expanding to Egypt and Lebanon, EMPG will also operate OLX’s platforms in Pakistan, Saudi Arabia, Bahrain, Kuwait, Qatar, and Oman, and the dubizzle platform in the UAE.
New business merge in EMPG and OLX Group
“This merger of EMPG and OLX will allow us to better serve our customers, given that both operate brands with a strong following and will allow us to leverage existing tech and data to paint a more accurate picture of the state of affairs in the real estate industry across the region,” he said.
“At the same time, we will be making significant technology investments to provide more value to all users of property, automotive and other segments of the dubizzle and OLX platforms.”
Source: khaleejtimes
