Tech EU: Getir acquires German competitor Gorillas in $1.2 billion deal

Turkey’s ultrafast grocery service Getir has officially announced the acquisition of Berlin-based Gorillas for $1.2 billion, giving the combined group a $10 billion valuation. The deal is reportedly mostly comprised of equity, with around $40 million in cash being paid out to investors. However, as reported by the Financial Times’ Tim Bradshaw, “given the drop in valuation, it is likely some Gorillas backers will be left with little or no return on their investment.”

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