Dubai: Careem, the Dubai-based ride-hailing app, has acquired Cyacle, a bike rental service, on Tuesday.
Careem said the acquisition will allow it to grow its presence in the region and enhance mobility, however, it didn’t disclose the value of the deal.
Cyacle, which currently only operates in Abu Dhabi, has docked bicycles for consumers to use. The bicycles are available through an app 24 hours a day and users can input a ride code to release the bicycles from the docking system.
The service will be accessible through the main Careem app and will be available on iOS and Android. It will also allow users to pay for renting the bicycles through their credit and debit cards and have daily to yearly memberships.
Two months ago, Uber announced that it will acquire Careem for $3.1 billion, but it will still retain its logo, brand name and top management.
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