Ola acquires public transport app Ridlr

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Ride sharing app Ola has acquired a majority shareholding in the public transport ticketing app Ridlr for an undisclosed amount.

The deal involved Ola carrying out a share swap with Matrix Partners India Investment Holdings, Qualcomm Asia Pacific, Times Internet, CIIE Initiatives, Kartheepan Madasamy and Jitendra Gupta. Ola will issue series I5 preference shares to the sellers in exchange.

Ola said the acquisition was in line with its efforts to integrate its platform with public transportation infrastructure.

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