AirAsia To Acquire Gojek’s Thailand Operations In $50M Agreement

AirAsia To Acquire Gojek’s Thailand Operations

AirAsia Digital, the digital arm of AirAsia Group, has struck a deal to buy Gojek’s operations in Thailand. Gojek will be paid in shares of AirAsia Super App worth $50 million in market value, AirAsia said in a press release.

The deal is expected to advance expansion of the AirAsia Super App in Southeast Asia and enable Gojek to increase investments in its Vietnam and Singapore operations, according to the release. AirAsia is based in Malaysia.

AirAsia Group CEO Tony Fernandes said in the release that the acquisition is “the start of a tremendous long-term strategic partnership with Gojek, which is sure to rock the industry. By taking on Gojek’s well-established Thai business, we’ll be able to turbo charge our ambitions” to become a leading super app in Southeast Asia.

Fernandes added in the release that “in response to overwhelming regional demand, we are setting our sights on bringing our super app offerings to all of our key markets…” He called Gojek’s Thai business “well-established.”

Gojek CEO Kevin Aluwi said in the release that “the deal will enable us to pivot our focus in international markets towards Vietnam and Singapore — markets providing us with the best return on investment and strategic growth opportunities.”

AirAsia Digital was previously known as RedBeat Ventures, according to the release.

“The AirAsia brand is already strong in Thailand, and we are thrilled to confirm this partnership today supporting the upcoming launch of the AirAsia Super App,” said AirAsia Thailand Executive Chairman Tassapon Bijleveld in the release.

Indonesia-based Gojek started as a call center for hailing motorcycle taxis 10 years ago and today offers services ranging from ride-hailing to money transfer. Gojek trotted out a new app for the Thai market in September, PYMNTS reported.

At the time, Gojek was offering discount coupons to new users in Thailand.

“This is the time to rebrand and launch Gojek under a single application brand,” said Pinya Nittayakasetwat, Gojek’s country manager in Thailand, at the time.