Qatar-based technology company Snoonu has acquired Akeed, an Oman-based food delivery platform.
Akeed has a network of more than 1,000 restaurants.
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According to Doha News, Snoonu has agreed to acquire Akeed for a consideration of $10m.
The deal is in line with Snoonu’s objectives of diversifying and expanding its operations in the region.
Snoonu co-founder and CEO Hamad Mubarak Al-Hajri said: “Our acquisition of Akeed was a decision made based on the company’s stellar reputation as one of the leading food delivery platforms in our sisterly Sultanate of Oman.
“Akeed’s wide network of restaurants and grocery stores will enable us to establish a solid foothold in the Omani market as our initial step towards an expanded regional presence and involvement.
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By GlobalData“This amazing milestone is quite exciting for us because it reinforces our efforts towards becoming Qatar’s first-ever tech unicorn.”
In addition to restaurants, Akeed also has an established network of stores.
Going forward, the company intends to develop the local tech economy, encouraging innovation and working with local online services.
Akeed co-founder and CEO Gaurav Anil Nahar said: “We are excited about this agreement with Snoonu and we look forward to a future vision that will bring the latest in the e-commerce and logistics services industry to Oman.
“The Akeed team is happy to be joining hands with such a successful brand from Qatar, and we believe that this deal will add more value to both markets.”
