Uber Acquires All Shares of T Map Mobility's Uti... "Investment for Industry Growth and Coexistence"

Global mobility platform Uber announced on the 20th that it will acquire all shares of Tmap Mobility held by Uti. The acquisition will be completed early next year after approval from Tmap Mobility shareholders, and upon approval, Uber will secure full ownership and operational rights of Uti.

Uti was jointly owned by global ride-sharing company Uber with a 51% stake and Tmap Mobility with a 49% stake. The company stated that this acquisition reflects Uber Taxi's commitment to strengthening investments for long-term growth and development in the domestic market.

Dom Taylor, Head of Uber Mobility Asia-Pacific, said, “We are very pleased to expand investments for sustainable growth and mutual prosperity in the mobility industry in the Korean market, which has high growth potential. We plan to provide users with an enhanced service experience, focus on increasing drivers' earnings, and strengthen our position as a trusted partner.”

Meanwhile, this agreement reflects the strong cooperation among Uber, SK Square, and Tmap Mobility, as well as mutual trust in Uber Taxi's long-term growth potential. Collaboration to enhance domestic consumer convenience, such as mapping technology optimized for Korea's terrain, will continue.

This content was produced with the assistance of AI translation services.