Airasia Digital has agreed to acquire southeast Asia’s leading mobile payments app Gojek’s business in Thailand.
The digital arm of airasia Group said the deal will drive expansion of the airasia ‘super app, while enabling Gojek to increase investments in its Vietnam and Singapore operations.
Gojek will receive shareholding in the airasia super app which has a market value of around $1 billion.
“The deal provides both parties with a strong foundation to explore additional opportunities for collaboration and synergies in one of the fastest-growing regions in the world,” airasia said.
Airasia Group chief executive Tony Fernandes said the dea was “the start of a tremendous long term strategic partnership with Gojek which is sure to rock the industry.
“By taking on Gojek’s well-established Thai business, we’ll be able to turbo charge our ambitions in this space to become a leading Asean challenger super app,” he added.
“We already have a complete digital economy ecosystem. We have successfully established over 15 different non-airline products and lifestyle services on our digital e-commerce platform in Malaysia.
“Now it’s time to take it to the next level. In response to overwhelming regional demand, we are setting our sights on bringing our Super App offerings to all of our key markets, following the successful roll out in Thailand.
“All of our digital businesses are going from strength to strength and through this alliance, our goal of becoming the Asean Super App of choice is fast becoming a reality.”
Gojek chief executive Kevin Aluwi, said: “This deal is a testament to the accomplishments of our team in Thailand, who grew the business from nothing to an on-demand service provider that has made a difference to hundreds of thousands of people throughout the country.
“The business was built on a huge amount of talent and passion and we will of course, work closely with our Thai employees as well as airasia through this transition.
“We are proud of and deeply grateful for everything Gojek Thailand has achieved, as well as for our loyal Thai consumers and driver and merchant partners, who have always been at the heart of what we do.
“Airasia Digital and the airasia Super App will become a highly valued partner for us as we share the same goal to provide users with better services, while enhancing the livelihoods of drivers and merchants.
“At the same time, the deal will enable us to pivot our focus in international markets towards Vietnam and Singapore – markets providing us with the best return on investment and strategic growth opportunities.”
President of airasia Digital, Aireen Omar, added: “What we have achieved in the past year is incredible, including changing the mindset of thousands of Allstars (staff) from an airline mentality to becoming digitally focused, which is no mean feat.
“The airasia Digital group consists of three key digital companies, namely the airasia Super App which provides a lifestyle platform for travel, e-commerce, financial services, farm to table, health and edutech products and services.
“Our logistics venture Teleport, is the fast growing e-commerce logistics company, ready to offer instant door-to-door deliveries as well as delivering within 24hrs across all of Southeast Asia and airasia’s BigPay fintech business is now on track to become the region’s first virtual bank.
“The future is exciting as we continue to forge ahead with many new innovations to truly embrace the digital era and make a difference to people’s everyday lives.”