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Ola to buy Foodpanda India to expand food delivery business

Acquisition to help Ola take on Uber Eats

Ola invests $200 million in Foodpanda.   © Reuters

MUMBAI (NewsRise) -- Indian ride-hailing service Ola has agreed to buy the local operations of food delivery start-up Foodpanda in an all-stock deal, seeking to fend off the dominance of rival Uber Technologies' Uber Eats in the south Asian country.

As part of the deal, Ola will invest $200 million in Foodpanda, the Indian company said in a statement Tuesday.

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