The acquisition supports EDC’s mission to drive smart, safe, and sustainable mobility solutions, reinforcing its leadership in a rapidly evolving transport landscape across the UAE
Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company, announced that its subsidiary, Emirates Driving Company (ADX: DRIVE), has completed the acquisition of a 22.5% stake in Mwasalat Holdings, with an option to increase its shareholding to 50.6%.
The transaction marks a significant strategic step for Emirates Driving Company (EDC) as it advances its ambition to become a fully integrated mobility powerhouse. This investment aligns with EDC’s long-term growth strategy, reinforcing its role as a national leader in safe, sustainable, and smart transportation across the UAE and the wider region.
Transforming EDC into a Future-Ready Mobility Leader
Commenting on the acquisition, Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: “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.”
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. It reflects EDC’s commitment to shaping the future of transportation by combining advanced technologies with operational excellence. We are especially looking forward to new opportunities in smart mobility together with Mwasalat.”
Unlocking Synergies in Transport Innovation
Mwasalat Holdings’ Managing Director, Omeir Al Mheiri, welcomed the partnership: “Our partnership with Emirates Driving Company marks an exciting new chapter for Mwasalat and the wider UAE transport sector. It enables us to drive synergies that will advance smart mobility, digital transformation, and public service excellence. Together, we can elevate service delivery, enhance operational efficiency, and create a more connected and sustainable future for the UAE.”
Mwasalat: A Backbone of UAE Urban Mobility
Headquartered in Abu Dhabi, Mwasalat Holdings is one of the UAE’s most prominent integrated transport providers, generating over AED 650 million in revenue in FY2024. The company manages a diverse fleet that includes:
- Over 1,000 public and private buses
- More than 2,500 taxis
- Around 5,500 rental vehicles
With a workforce exceeding 5,000 employees, Mwasalat supports both community and commercial mobility needs across the Emirates. It has built a strong reputation for safety, innovation, and operational reliability in public and private transport services.
A Future-Focused Mobility Ecosystem
This strategic move by EDC lays the foundation for a next-generation mobility ecosystem, powered by innovation, artificial intelligence, and integrated service delivery. It positions EDC and Mwasalat to lead the market in delivering intelligent mobility solutions aligned with national goals for sustainable infrastructure and smart cities.
The acquisition forms part of Multiply Group’s broader growth strategy, following a series of recent investments and platform-building initiatives across key sectors. The Group remains committed to identifying and investing in high-potential opportunities that drive shareholder value and support national development priorities.
