Malaysia's AirAsia to buy Gojek's Thailand business for $50 million

KUALA LUMPUR: Malaysian budget airline AirAsia Group said its digital units have acquired two Thai technology businesses from Indonesian ride-hailing and payments firm Gojek for $50 million, according to a stock exchange filing on Wednesday.

The acquisition involved 100% of the equity interest in Velox Technology for $40 million by AirAsia SuperApp, and the entire equity in Velox Fintech for $10 million by AirAsia Digital.

AirAsia said the acquisitions will be satisfied by the issue of shares in AirAsia SuperApp, whereby the sellers will subscribe to ordinary shares representing 4.76% in AirAsia SuperApp.

Earlier, Nikkei Asia reported citing sources that AirAsia is in talks with Gojek to acquire its business in Thailand.

Under the deal, Gojek would take a stake in AirAsia's digital arm, while the low-cost carrier would acquire Gojek's business in Thailand.

A deal with the Indonesian startup unicorn comes just a week after the loss-making airline applied for a digital banking license in Malaysia, signaling a shift in focus towards digital business as most of its fleet remains grounded amid coronavirus restrictions.