Dubai-based shared mobility services provider Swvl has entered into a definitive agreement to acquire UK-based smart bus platform and technology start-up Zeelo, as it continues to expand globally.
The deal will expand Swvl's worldwide footprint to 146 cities across 21 countries, including immediate entry into two big markets, the US and South Africa, while boosting its sustainable business model, it said on Friday.
The terms of the deal, which is expected to be finalised in May, were not disclosed.
“Swvl and Zeelo share a vision and mission to provide reliable transportation that gets riders where they need to go in an affordable, safe and environmentally friendly manner,” said Mostafa Kandil, founder and chief executive of Swvl.
“Zeelo rapidly advances our leading market position as a provider of technology-enabled mass transit solutions on a global scale.”
Swvl's acquisition of Zeelo follows other agreements forged by the $1.5 billion company, which listed on the Nasdaq last month after merging with a special-purpose acquisition company (Spac).
Earlier this week, Swvl, which was incorporated in Cairo, agreed to acquire Turkish mass transit company Volt Lines to further expand its operations in Europe.
The company bought Berlin-based technology-enabled mass transit solutions provider door2door last month.
It also acquired a controlling stake in Shotl, an Uber-like service in Barcelona for bus and van operators, last August.
In November, it acquired a controlling interest in Argentina's Viapool to help its expansion within Latin America.
The mobility-as-a-service market was valued at about $12bn in 2020 and is projected to grow up to $60bn by 2026 at a compound annual rate of more than 30 per cent, according to Mordor Intelligence.
Zeelo offers daily bus commutes to frontline workers and students through contracts with organisations and family-run bus operator networks.
Its system is used by large businesses, staffing agencies, independent schools and universities across the UK, South Africa and the US.
The Zeelo acquisition is expected to help Swvl in supporting the shift from single-occupancy vehicles to zero-emission mass transit as it seeks to tap into opportunities in both the labour and education segments.
The deal would “firmly establish smart bus transport as the best-in-class shared mobility solution that takes account of all income levels and the needs of ordinary, every-day travellers”, said Sam Ryan, founder and chief executive of Zeelo.
“Bus transport done well with tech can take us beyond our dependency on cars and taxis, which are not suitable for commutes from non-urban areas … especially shift workers, professionals and students living in transport-poor areas in the developed markets.”
Swvl, which was founded in 2017, allows commuters to reserve seats on private buses operating on fixed routes and pay fares using its mobile app.
It has intercity and intra-city buses and offers transport services to business and governments.
The latest agreement will enable Swvl to offer business-to-business mobility solutions that reduce operational costs for its clients, the company said.
It also aims to tap into the light-delivery model by partnering with existing fleet partners, including more than 200 bus operators in the UK and the US.
Syria squad
Goalkeepers: Ibrahim Alma, Mahmoud Al Youssef, Ahmad Madania.
Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.
The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
WWE TLC results
Asuka won the SmackDown Women's title in a TLC triple threat with Becky Lynch and Charlotte Flair
Dean Ambrose won the Intercontinental title against Seth Rollins
Daniel Bryan retained the WWE World Heavyweight Championship against AJ Styles
Ronda Rousey retained the Raw Women's Championship against Nia Jax
Rey Mysterio beat Randy Orton in a chairs match
Finn Balor defeated Drew McIntyre
Natalya beat Ruby Riott in a tables match
Braun Strowman beat Baron Corbin in a TLC match
Sheamus and Cesaro retained the SmackDown Tag Titles against The Usos and New Day
R-Truth and Carmella won the Mixed Match Challenge by beating Jinder Mahal and Alicia Fox
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Sting & Shaggy
44/876
(Interscope)
CREW
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Specs
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The Africa Institute 101
Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
KILLING OF QASSEM SULEIMANI
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
Results
1.30pm Handicap (PA) Dh50,000 (Dirt) 1,400m
Winner Al Suhooj, Saif Al Balushi (jockey), Khalifa Al Neyadi (trainer)
2pm Handicap (TB) 68,000 (D) 1,950m
Winner Miracle Maker, Xavier Ziani, Salem bin Ghadayer
2.30pm Maiden (TB) Dh60,000 (D) 1,600m
Winner Mazagran, Tadhg O’Shea, Satish Seemar
3pm Handicap (TB) Dh84,000 (D) 1,800m
Winner Tailor’s Row, Royston Ffrench, Salem bin Ghadayer
3.30pm Handicap (TB) Dh76,000 (D) 1,400m
Winner Alla Mahlak, Adrie de Vries, Rashed Bouresly
4pm Maiden (TB) Dh60,000 (D) 1,200m
Winner Hurry Up, Royston Ffrench, Salem bin Ghadayer
4.30pm Handicap (TB) Dh68,000 (D) 1,200m
