Etisalat signs agreement to acquire elGrocer

Emirates Telecommunications Group Company (Etisalat Group) signed an agreement with elgrocer Ltd to acquire 100 per cent of elGrocer DMCC, to support its digital ambitions by enriching its services bringing it closer to the daily lives of the consumers and unlocking synergies that drive a diversified and integrated product portfolio.

With UAE ranked as one of the highest globally in terms of smart device penetration and rated as one of the most advanced countries for online shopping and eCommerce market in Mena, this acquisition will contribute to the growing digital economy in the country.

Khaled ElKhouly, Chief Consumer Officer of Etisalat UAE, said, “Online shopping has redefined retail in the last decade with an increasing number of consumers moving to online transactions. Considering Etisalat’s leadership role in the acceleration of UAE’s digital transformation, we have been continuously working on new, innovative digital services and this acquisition is in line with our strategy to empower consumers, enhance engagement through our digital marketplace platform and drive diversification of our business.” elGrocer’s strong online presence in the country will complement Etisalat UAE’s existing marketplace services under the brand ‘Smiles’ including online food delivery, lifestyle offers and the ability to earn and redeem points at more than 7,000 outlets across the UAE.

Raed Hafez, CEO of elGrocer, said, “We are excited to join forces with Etisalat team giving us the opportunity to tap into their digital capabilities, advanced network and services to accelerate our strategic expansion plans.”