Anterin Online Ojek Is Officially Acquired By IATA

JAKARTA - PT Indonesia Transport & Infrastructure Tbk (IATA) has signed a term sheet to acquire a majority stake in PT Anterin Digital Nusantara.

PT Anterin Digital Nusantara is engaged in the online motorcycle taxi business under the name Anterin. Anterin has moved quickly to penetrate the market. In less than a year of operation, Anterin has more than 300,000 registered drivers and 530,000 customers, operating in 51 cities across Indonesia.

Anterin's business also continues to grow. Not only offering online motorcycle taxis, Anterin also has a delivery service. This year, Anterin will develop exciting new services, including taxi services (in collaboration with leading taxi providers), food delivery services, shuttle, car and helicopter rental services.

“IATA chose Anterin mainly because of the vision it embraces. Anterin was created to change the current online motorcycle taxi operation concept, "said Wishnu Handoyono, Vice President Director of IATA in a statement received, Wednesday, January 29.

The main difference between Anterin and other travel service providers is the way Anterin treats their drivers. Anterin does not charge drivers by charging a commission discount on every transaction, but with a monthly subscription system.

This business model is considered fairer and more profitable for drivers. This business model provides answers to complaints from drivers who feel that online motorcycle taxi operators charge too high for jobs that are fully carried out by drivers.

Apart from that, users also benefit from the bargain feature and driver selection options available on the app. With this feature, customers will get a more reasonable price, according to the agreement, without having to be dictated by the application.

This acquisition is subject to IATA's due diligence. Assuming the due diligence process runs smoothly, IATA is targeting to close the transaction by the end of February 2020.