Grab to make more acquisitions in the region

It recently acquired Indonesian online payment startup.

Reuters reported that Singapore-headquartered Grab is open to further acquisitions after buying an Indonesian online payments startup, one of the co-founders of the Southeast Asia-focused ride-hailing service said.

Grab, which competes aggressively with U.S.-based Uber Technologies Inc UL] in the region, sees its future in mobile payments as much as in transport and acquired Indonesia's Kudo last month. The company did not say how much it paid, but Reuters had earlier reported that it had expected to pay $100m.

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