Grab is buying Indonesian payment firm Kudo in its first major acquisition

Tech Crunch reported that Grab, the Southeastern rival of Uber, is trying to buy Indonesia-based online payment startup Kudo in its first major acquisition. The deal is expected to be over $100 million however our source suggested that the figure is in fact lower.

Grab’s only previous acquisition was little-known Chinese ride-sharing startup Youche back in 2013. That deal was done to combine Grab’s Beijing office, which is one of it global engineering bases. This time around, Grab is paying bigger money for a much more strategic deal.

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