India, Nov. 6 -- Nasdaq-listed traveltech major MakeMyTrip has expanded into the carpooling segment via the acquisition of a majority stake in Bengaluru-based Quick Ride for an undisclosed amount.

In a statement, MakeMyTrip said that the acquisition will allow it "to establish a presence in the ride pooling segment, which is complementary to the group's existing ground transportation portfolio."

As part of the transaction, Quick Ride's brand and ride-pooling business have been transferred to a newly formed entity, Co Ride Mobility Private Limited, in which MakeMyTrip has acquired a majority stake. Quick Ride's promoters will continue to lead the business.

However, Quick Ride's erstwhile electric vehicle (EV) taxi business will remain w...