Getir buys German rival

Express delivery company Getir has acquired all of German rival Gorillas for a valuation of $1.2 billion.

According to the UK Financial Times (FT) story, based on sources close to the matter, Getir’s valuation has decreased to $8.8bn, while the combined post-purchase valuation was $10bn.

In the Getir statement, it was confirmed that the Gorilas company was purchased, but no information was given on the price.

NEGOTIATIONS WERE GOING ON

In the news published in Bloomberg on October 10, it was indicated that Getir is in advanced negotiations to acquire Gorillas Technologies.

With the expansion of its operations to seven European countries in the last year and the start of operations in the US at the end of last year, Getir’s valuation was approximately $11.8 billion in March. (Reuters)