{"id":546083,"date":"2022-04-27T03:57:03","date_gmt":"2022-04-27T03:57:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/swvl-to-acquire-turkish-transit-company-volt-lines\/"},"modified":"2022-04-27T03:57:03","modified_gmt":"2022-04-27T03:57:03","slug":"swvl-to-acquire-turkish-transit-company-volt-lines","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/swvl-to-acquire-turkish-transit-company-volt-lines\/","title":{"rendered":"Swvl to acquire Turkish transit company Volt Lines"},"content":{"rendered":"

<\/a> Cairo-born mass transit firm Swvl is continuing its buying spree<\/strong>, announcing this week<\/a> an agreement to purchase Turkish firm Volt Lines<\/a> in what is the company\u2019s fourth acquisition in the past eight months.<\/p>\n

The details:<\/strong> The acquisition will be executed with a mix of cash and shares, with the \u201cvast majority\u201d of purchase being paid for with shares linked to earnout targets, Swvl CFO Youssef Salem told Enterprise. The transaction could value Volt at almost USD 40 mn should it reach its targets in the next two or three years, he said. Salem expects the transaction to close this quarter (2Q 2022) and Swvl will follow it up with a USD 25 mn investment to expand the business\u2019s footprint in Turkey, he added.<\/p>\n

About Volt Lines: <\/strong>Founded in 2018, the company provides monthly subscriptions to employees of over 110 companies for shared bus commutes in Istanbul and Ankara. CEO Ali Halibi will remain at the company\u2019s helm, Swvl said in the statement.<\/p>\n

\"The acquisition of Volt Lines expands on Swvl\u2019s position as a leader of mobility solutions<\/strong>, with a clear [chance] to scale the platform globally. Volt Lines brings an extensive list of multinational customers that we are excited to continue to grow relationships with as we provide them with the transportation solutions they need,\u201d Salem said in the statement.<\/p>\n

This is Swvl\u2019s fourth acquisition since last August<\/strong>, when it acquired<\/a>mobility platform Shotl<\/a>, a Spanish firm that operates in 10 countries including Brazil and Japan. Swvl in November took a controlling stake in transit company Viapool<\/a>, which operates in Argentina and Chile, and recently entered Central Europe with its acquisition of German company Door2Door<\/a>, which it expects to finalize later this quarter.<\/p>\n

Swvl made its <\/strong>Nasdaq debut<\/strong> earlier this month <\/strong>after it concluded its SPAC merger with Queen\u2019s Gambit Growth Capital. The company offered a 35% stake to investors in a sale that originally valued it at USD 1.5 bn.<\/p>\n

Swvl\u2019s shares are mounting a comeback after a volatile start <\/strong>to their life on the Nasdaq. Its stock fell almost 60% in the three weeks its debut, but has rallied over the past week and is now some 36% below its IPO price. The tech-heavy Nasdaq is itself down 23% from its most recent high \u2014 well into bear market territory<\/a> \u2014 as traders pivot from growth stocks due to risk-off sentiment triggered by the war in Ukraine, inflationary pressure, and rising interest rates.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cairo-born mass transit firm Swvl is continuing its buying spree, announcing this week an agreement to purchase Turkish firm Volt Lines in what is the company\u2019s fourth acquisition in the past eight months. The details: The acquisition will be executed with a mix of cash and shares, with the \u201cvast majority\u201d of purchase being paid […]<\/p>\n","protected":false},"author":1,"featured_media":546084,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[72,7128,95,507,207,1770],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-ma-watch","tag-startup-watch","tag-swvl","tag-transport","tag-volt-lines","wpautop","entry"],"acf":{"mongo_id":"cb11c9b1-5ee3-4d53-a9dd-fd13d6b9d849","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/375.jpg","photo_position":"above","related_issue":[546077],"teaser":"","voice_url":""},"yoast_head":"\nSwvl to acquire Turkish transit company Volt Lines - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/swvl-to-acquire-turkish-transit-company-volt-lines\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swvl to acquire Turkish transit company Volt Lines\" \/>\n<meta property=\"og:description\" content=\"Cairo-born mass transit firm Swvl is continuing its buying spree, announcing this week an agreement to purchase Turkish firm Volt Lines in what is the company\u2019s fourth acquisition in the past eight months. 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The two sides agreed to terminate the USD 65 mn acquisition in December and\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/476.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578997,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/swvl-hit-with-a-second-nasdaq-delisting-notice-will-unwind-volt-lines-acquisition\/","url_meta":{"origin":546083,"position":1},"title":"Swvl hit with a second Nasdaq delisting notice, will unwind Volt Lines acquisition","author":"enterpriseam admin","date":"22 January 2023","format":false,"excerpt":"The company has traded below USD 1.00 a share since mid-September","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/359.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547886,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/","url_meta":{"origin":546083,"position":2},"title":"Swvl is entering Mexico with another acquisition","author":"enterpriseam admin","date":"18 July 2022","format":false,"excerpt":"Swvl expands to Mexico with fourth acquisition of 2022: Cairo-born mass transport app Swvl is continuing its buying spree with the acquisition of Mexico-based transport firm Urbvan Mobility, giving the Nasdaq-listed startup access to the second most populated market in Latin America. In an announcement last week, Swvl said it\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/180.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548203,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/31\/swvl-has-terminated-its-acquisition-of-uk-based-zeelo-due-to-market-volatility\/","url_meta":{"origin":546083,"position":3},"title":"Swvl has terminated its acquisition of UK-based Zeelo due to \u201cmarket volatility\u201d","author":"enterpriseam admin","date":"31 July 2022","format":false,"excerpt":"Swvl\u2019s acquisition of UK-based smart bus platform Zeelo is off: Cairo-born mass transport app Swvl will not be acquiring UK startup Zeelo, after the two companies said they were calling off the transaction due to turmoil in financial markets, Swvl announced in a filing to the US Securities and Exchange\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/316.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550770,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/26\/this-evening-welcome-palm-hills-developments-to-enterprisepm-swvl-to-purchase-turkish-firm-volt-lines-elon-musk-buying-twitter-is-the-talk-of-the-town\/","url_meta":{"origin":546083,"position":4},"title":"THIS EVENING: Welcome Palm Hills Developments to EnterprisePM + SWVL to purchase Turkish firm Volt Lines + Elon Musk buying Twitter is the talk of the town","author":"enterpriseam admin","date":"26 April 2022","format":false,"excerpt":"Good afternoon, wonderful people, and happy would-be hump day. Although days off are typically best when they\u2019re not during Ramadan, we\u2019re not exactly complaining that we have a shortened workweek before we jump into the Eid holiday next week.*** We are also delighted to welcome aboard our friends at Palm\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546849,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/swvl-slashes-headcount-as-startups-around-the-world-gird-for-nuclear-winter\/","url_meta":{"origin":546083,"position":5},"title":"Swvl slashes headcount as startups around the world gird for nuclear winter","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"Swvl cuts headcount by a third: Nasdaq-listed mass transport startup Swvl is laying off 32% of its staff in a bid to turn cash flow positive by next year, it said in a statement yesterday. Around 400 jobs will be cut as the company looks to reduce costs, CFO Youssef\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/411.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546083"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546083\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546077"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546084"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546083"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546083"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}