Emirates Driving Company (EDC) PJSC (ADX: DRIVE), a subsidiary of Multiply Group PJSC, has agreed to acquire a 22.5 percent stake in Mwasalat Holdings LLC, with the option to increase its shareholding to 50.6 percent, subject to completion of certain conditions and relevant regulatory approvals. This strategic investment marks a major milestone in EDC’s long-term growth strategy – reinforcing its position as a mobility champion, accelerating innovation, and expanding its role in delivering seamless, safe, and sustainable transport across the UAE and wider region.
The deal will unlock significant operational synergies, paving the way for greater profitability and long-term value creation. Building on EDC’s 25-year market legacy, it will broaden the company’s portfolio in line with a bold, future-focused mobility vision.
By strengthening EDC’s capabilities in public transport, the acquisition, once completed, will lay the groundwork for collaboration in bus and taxi operations while creating new opportunities to enhance service quality, improve efficiency, and elevate customer experience. The partnership also supports the UAE’s ambition to lead in smart, technology-driven urban mobility and autonomous solutions – advancing a more inclusive, resilient, and sustainable transport network for future generations.
Read more: UAE’s Multiply Group acquires 80 percent of International Energy Holding
Setting a new standard for smart mobility
Khaled Al Shemeili, CEO of Emirates Driving Company, commented: “Innovation is no longer a choice in the mobility sector – it is a strategic imperative. This investment in Mwasalat reflects our commitment to shaping the future of transportation by combining advanced technologies with operational excellence. Our goal is to deliver safer, more accessible, and intelligent mobility solutions that meet the evolving needs of communities across the UAE. Together with Mwasalat, we will deliver a superior customer experience through digital platforms, AI-driven solutions, and seamless multi-modal transport, setting a new standard for smart mobility.”
Founded and headquartered in Abu Dhabi, Mwasalat generated over AED650 million in revenues in FY24 and operates a diverse fleet spanning public buses, taxis, school transport, and corporate hire vehicles. The company has further built a strong reputation for safety, innovation, and reliability, delivering accessible and efficient transport solutions that play a vital role in urban mobility across the Emirates.
New chapter in integrated mobility
Moreover, Omeir Al Mheiri, managing director at Mwasalat Holding, added: “Our partnership with Emirates Driving Company marks the next chapter in Mwasalat’s journey as a leader in integrated mobility. By combining our shared commitment to smart mobility, sustainability, digital transformation, and public service excellence, we will unlock significant opportunities to enhance service delivery, operational efficiency, and customer satisfaction. Together, we aim to redefine how mobility is experienced across the UAE and deliver significant value to the communities we serve.”
Furthermore, with this acquisition, EDC lays the foundation for a new mobility powerhouse in the region — one that leads the market by seamlessly integrating innovation, advanced technology, and artificial intelligence across every aspect of its operations. Together, EDC and Mwasalat aim to redefine the future of transportation, delivering smarter, safer, and more sustainable mobility experiences at scale.
