Gojek to combine with Tokopedia to create Indonesia tech giant

JAKARTA: Indonesia’s ride-hailing and payments giant Gojek agreed to combine with pioneer PT to create the largest internet company in the world’s fourth most-populous nation.

The combined entity is set to form an Indonesian powerhouse, encompassing businesses from car-sharing and fintech to online shopping and delivery. The two companies said Monday they will form a holding company called GoTo through a deal backed by shareholders including Google and Alibaba Group Holding Ltd.

Gojek co-Chief Executive Officer Andre Soelistyo will head the combined app giant. Patrick Cao, president of , will retain that title at the new entity.

William Tanuwijaya, CEO of Tokopedia, will continue to lead the online shopping pioneer he founded in 2009, while Gojek co-CEO Kevin Aluwi will continue to helm ride-hailing and delivery giant Gojek. Group CEO Soelistyo will head the payments and financial services unit GoTo Financial.

Gojek and have been in discussions for a possible merger since late December after Gojek’s negotiations with rival Grab Holdings Inc. collapsed. Grab last month agreed to go public in the U.S. through a combination with Altimeter Growth Corp., the largest-ever merger with a blank-check company.

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