e&, a subsidiary of the Emirates Telecommunications Group, stated on Monday that it has entered into a legally binding agreement to purchase the majority of Uber Technologies’ spinoff Super App.

Emirates Telecom, formerly known as Etisalat and now known as e&, recently told Bloomberg TV that it wants to redefine itself as a global technology investor and that it has the “capacity and the wallet” to do so. It became Vodafone’s largest investor last year.

Following the development, Uber will continue to own all rights to Careem’s ride-hailing company, which will continue to operate alongside all other Careem services on the current app.

e&, a subsidiary of the Emirates Telecommunications Group, stated on Monday that it has entered into a legally binding agreement to purchase the majority of Uber Technologies’ spinoff Super App.

Emirates Telecom, formerly known as Etisalat and now known as e&, recently told Bloomberg TV that it wants to redefine itself as a global technology investor and that it has the “capacity and the wallet” to do so. It became Vodafone’s largest investor last year.

Following the development, Uber will continue to own all rights to Careem’s ride-hailing company, which will continue to operate alongside all other Careem services on the current app.