Tashkent, Uzbekistan (UzDaily.com) -- Uzum has decided to abandon plans to merge with the Click payment system. Instead, Uzum will focus on developing its services within its own ecosystem. This is stated in the company’s press release.

Uzum emphasizes that their strategy is now aimed at developing fintech and e-commerce services within their own platform. The company believes that this approach will provide maximum efficiency and a unified focus, as well as full control of the product, brand and development strategy.

Over the past year, Uzum has strengthened its fintech team and completed the acquisition and merger of assets. They also emphasize that they will develop organically, without resorting to M&A transactions (mergers and acquisitions), which will allow them to maintain current growth rates and ensure the stable development of the ecosystem.

In June 2023, Uzum and Click announced their intention to merge and began pre-investment due diligence. As a result, it was planned to submit an application for approval of the transaction to the Committee for the Development of Competition and Protection of Consumer Rights of Uzbekistan. However, due to new strategic priorities, Uzum decided to abandon this plan.