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Zomato has agreed to sell its UAE business to the German-based Delivery Hero for an estimated $172 million.

Zomato and Delivery Hero will enter into a Services Agreement where the former will continue to run the UAE business on its own platform.

Deepinder Goyal, Co-founder and CEO of Zomato said that he was delighted to welcome Delivery Hero as a shareholder and expected to strengthen Zomato’s business in India from the global experience of the new partner.

Zomato also has raised $315 million in its ongoing round of funding from Glade Brook Capital and Delivery Hero.

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