Advised Ola On Its Acquisition Of A Company In Complementary Space

January 12, 2015
Transportation
Press

To operate legally in the national capital, Indian mobile app service for cab booking, Ola, is in final-stage talks to acquire Gurgaon-based radio taxi service GoCabs. The deal is expected to be closed with in a week. This move will help OlaCabs to get required clearance from the transport authorities in Delhi.

As per an ET report, “The due-diligence process is on since January 1. GCabs has about 160 CNG Swift DZires which will be an added benefit,” the person familiar with the deal added. According to the Delhi Government updated norms, the cabs having only NCR permit will be allowed to operate in Delhi, hence the company might apply for a Delhi permit on its own too.

Uber hasn’t resumed operations in Delhi and hasn’t yet applied for a licence. Under the modified scheme, operators will have to maintain a minimum fleet of 200 radio taxis either owned or through an agreement with individual taxi permit holders and start services with at least 50 cabs within a month of the licence being granted.

Cab aggregators don’t operate their own taxis, but provide the technology platform that links taxi owners and operators with passengers. While Uber and Ola work directly with drivers, TaxiForSure works with taxi operators. The Delhi Government had banned all activities by cab service Uber and  other technology based cab providers – TaxiForSure and Olacabs, after one of Uber’s drivers was arrested on charges of raping a woman and also on the grounds of not having a license from the Government to ply in the city. And had recently released the aforementioned norms to allow technology led cab services to operate in Delhi.

AUTHORS

No items found.

Suggested READS

Driving Investments: Key trends in transportation and cleantech for 2024
Press
Wait and watch in private secondaries market amid push for discounts
Press
How to prepare your company for a successful M&A
Press
2022, a year of intermittent fasting for startups and VCs
Press
Moonshine-Maker Ronin Wines Rakes In Fresh Funding
Press
Merisis Advisors advises the Wayne Burt Group on its divestment of Hydraulics Cylinder Business to Pennar Industries
Press

Suggested READS

Enterprise Tech Insights 2024: Unveiling Top Investor Trends Shaping the Digital Landscape
Press
Driving Investments: Key trends in transportation and cleantech for 2024
Press
From RegTech to cross-border, fintech trends to watch out for in 2024
Press
Point of Sale Sector: Projected Trends For 2024 and Beyond
Press
ET Soonicorns Summit, Panel on 'Road to IPOs'
Press
Fintech Startups Make Noise in Point-of-Sale Segment
Press
Decoding India's Housing Finance Landscape: Growth Drivers & Under-tapped Potential
Blogs
TMT Bankers in Demand – Increasing Trend of using Investment bankers in Technology Deals
Blogs
Merisis advises CQRA and Durocrete on strategic investment from Advanced Construction Technology Services (ACTS)
Blogs
Autonomous Mobile Robots – The New Trend in Robotic Deployments across Industries
Blogs
Investment activity in the Technology sector in 2013
Blogs
The Intersection of Fintech and the Gig Economy
Blogs
No items found.
No items found.
https://thehubops.com/