Abu Dhabi-based Multiply Group subsidiary, Emirates Driving Company, has acquired a 22.5 per cent stake in Mwasalat Holdings, with the option to increase its shareholding to a majority 50.6 per cent.
Mwasalat, founded in Abu Dhabi, manages a diverse fleet spanning over 1,000 public and private buses, over 2,500 taxis, and nearly 5,500 rental vehicles in the UAE. In the financial year 2024, it generated over AED650 million (US$177 million) in revenues and has over 5,000 employees.
The investment – financial details of which were no revealed – reflects EDC’s long-term growth strategy.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, commented: “This acquisition further strengthens and transforms EDC from a driving education provider into a fully integrated mobility player – one that is agile, innovative, and aligned with the future of transport.
“This evolution ensures the company remains relevant in a fast-changing mobility landscape and well-positioned to deliver long-term growth and resilience.”
The move closely follows a series of recent acquisitions, investments, and platform building activities by Multiply Group. In a statement, the Group said “it will continue to evaluate strategic opportunities and investments across its verticals that will enhance shareholder value”.
With this acquisition, EDC lays the foundation for a new mobility powerhouse in the region, one that leads the market by integrating innovation, advanced technology, and artificial intelligence across every aspect of its operations.
Khaled Al Shemeili, CEO of Emirates Driving Company, added: “The investment in Mwasalat sends a strong signal of confidence about the UAE’s mobility sector and how the industry is primed for further growth. Equally, it reflects EDC’s commitment to shaping the future of transportation by combining advanced technologies with operational excellence, and building on our mission to deliver safer, more accessible and intelligent mobility solutions that meet the evolving needs of communities.”
Mwasalat has built a reputation for safety, innovation, and reliability, delivering accessible and efficient transport solutions that play a vital role in urban mobility across the Emirates.
Omeir Al Mheiri, Managing Director at Mwasalat Holding, said: “Our partnership with Emirates Driving Company marks an exciting new chapter for Mwasalat and the wider UAE transport sector.
“This partnership provides us with a unique opportunity to drive synergies in ways that will advance smart mobility, sustainability, digital transformation and public service excellence. We will be presented with possibilities to enhance service delivery, operational efficiency, and enrich customer experience – contributing to a more connected, innovative, and sustainable future for the benefit of the UAE.”
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