The Chinese transport company, DiDi Chuxing, equivalent to Uber, acquired the Brazilian app 99, the largest urban mobility application, with the goal of accelerating its growth in Latin America.

This operation was part of an agreement that both companies have had for a year, when DiDi invested 100 million dollars in the Brazilian company in exchange for having a position in its administration council, and offering support and strategic advice on certain business areas.

Cheng Wei, founder and delegated adviser at DiDi, stated that the integration of both companies’ teams shall bring “more convenient mobility services, with greater added value” to Latin America, and claimed that the success of 99 is an example of the entrepreneurship and innovational spirit of the region.

Both companies’ teams will work of smart transportation technology, offering users better mobility services, providing drivers with new income opportunities and the installation of new transport technologies in the cities, based on “big data”, established the Chinese company.

DiDi considers Brazil to be the fastest growing market in mobile internet, and this acquisition is a “testimony of the growth period that of the new mobility industry, and of the amazing potential the region has for innovation”.

Globalization is a “strategic priority” for DiDi, said Cheng, who bets on investing in artificial intelligence capacities and smart transportation solutions.

Peter Fernandez, delegated adviser of 99, said that the two companies will become one single organization with a more consistent goal, “improving the transport industry, and having an impact on the lives of thousands of millions of people throughout the world”.

In January 2017, DiDi became a strategic partner of 99, and during the last year both teams worked together in areas such as technology, product innovation, operations, and business planning.