Etisalat UAE, branded as etisalat by e&, has completed the acquisition of Service Souk DMCC “ServiceMarket,” acquiring a 100% shareholding of the online marketplace. This acquisition is in line with the Group’s strategy to empower consumers, strengthen Smiles’ online marketplace presence and drive diversification.
ServiceMarket is a leading online marketplace for household services, offering over 40 services in several segments across the UAE. ServiceMarket’s strong market position complements etisalat by e&’s existing marketplace services under the brand “Smiles,” which already include online food and grocery delivery, lifestyle offers and the ability to earn and redeem points at more than 10,000 outlets across the UAE.
Commenting on the acquisition, Khaled ElKhouly, chief consumer officer of etisalat by e&, said, “The online household services market has demonstrated strong growth over the past few years, with an increasing number of consumers preferring to access a broad range of services at the comfort of their homes and through digital platforms they can trust. As a pioneer in the digital transformation journey for all UAE citizens, we have been expanding our portfolio of lifestyle services on the Smiles platform, including the recent addition of food and grocery delivery services. This acquisition is in line with our strategy to continue enriching the lives of our customers with convenient range of services, within the Smiles ecosystem and drive diversification of our business.”
Meanwhile, Bana Shomali, chief executive officer of ServiceMarket, added, “We are excited to join the etisalat by e& family, which will enable ServiceMarket to leverage e&’s digital capabilities and customer base to accelerate our growth and unlock significant synergies. As part of the Smiles ecosystem, we will continue to provide best-in-class services to consumers in the UAE and enrich our portfolio with new services to offer greater convenience every day.”