Image via Tech in Asia
Last updated
Delivery Hero: Ma Activity
Delivery Hero is exploring a strategic sale of Woowa Brothers (Baemin operator) in South Korea after 7 years of ownership. Investment bank JPMorgan is managing the process with teaser letters sent to strategic and PE investors including Uber, Naver, Alibaba, and DoorDash. Valuation estimated at ~4.6B.
Source: Tech in Asia
The leadership read
Consolidation of this kind shifts demand toward integration and transformation leadership bench strength in the sector.
“joining forces with Uber would strengthen Delivery Hero's long-term competitiveness in a scale-driven industry”
“the transaction would build on the company's strengths in local food delivery and quick commerce while advancing its Everyday App strategy”
Market context: Backdrop: a 107.9 (Hot) Talent Market Index (up 2.4 on the month) with Asia activity steady (+1.2pts).
Delivery Hero: 3 signals in the last 90 days; 0.2% of MitchelLake's Asia signal flow; 3 tracked across 61 days.
Also at Delivery Hero →
More signals across Asia
Ma Activity · Asia
Fairfax →Fairfax is an active bidder in the accelerated IDBI Bank stake sale process in India.
Ma Activity · Asia
Viatris →Viatris-owned Mylan is divesting its 5.64% stake in Biocon (Indian pharmaceutical company) through a block deal, signaling an exit from the investment.
Ma Activity · Asia
SoftServe →SoftServe acquired NewVision Software, an India-based technology firm specializing in agentic assurance and intelligent managed services
Ma Activity · Asia
Stack Infrastructure →Stack Infrastructure (Blue Owl-owned) secured 864MW data centre client contract and has potential acquirer preparing bid; company is evaluating $25B+ APAC sale
Ma Activity · Asia
Marex →Marex is acquiring Bright Point International to expand its presence in Asia
Ma Activity · Asia
upGrad →upGrad completed CCI-approved acquisition of Unacademy for ₹2,055 Cr (~$218M), an all-stock deal valued 90% below Unacademy's peak. This is part of upGrad's consolidation strategy; the company has acquired 6+ companies since 2022 and recently turned profitable (₹38 Cr PAT in FY26 YTD). Unacademy acquisition will add ~₹500 Cr to consolidated revenue and expand upGrad into K12 and exam prep segments.
Intelligence powered by Autonodal ↗