It appears as if ride-hailing company Grab might be acquiring rival Uber in South-East Asia. With the popularity of ride-hailing services in this region, Uber has rapidly been challenged by its competition, examples being Go-Jek in Indonesia and Grab elsewhere in ASEAN, reports Kr-Asia.com.

After dropping its China operations into the hands of Didi Chuxing in 2016, following a series of financial confrontations, Uber intended to focus its operations on ASEAN, the world’s fourth largest internet market. However, Grab, which started operations in Malaysia, claims it has overwhelming market share of the ride-hailing market regionally, with 95% of the third-party taxi and 71% of private ride-hailing, and completing 1 billion rides in South-east Asia.

Meanwhile, Uber has claimed a figure of 5 billion rides as of last June, but did not provide a breakdown of number of rides by country. It is said that Japan’s Softbank might be driving the merger of Grab and Uber, as the investment firm has a seat on the board of both companies and invested several billion US dollars into Uber last year.

Grab has taken most of the regional ride-hailing market, after offering cash payment as an option, something Uber was slow to implement in the mainly cash-driven economies of most ASEAN countries. Grab has a presence in more than 160 ASEAN and South Asian cities, being available in Malaysia, Singapore, Indonesia, India, Thailand, the Philippines, Vietnam, Myanmar, and Cambodia, while Uber can only be accessed in 60 cities in this region.