Uber has reached an agreement to acquire German food delivery firm Delivery Hero in a deal valuing the company at $14.8bn, creating a global food delivery giant across 99 countries.
Key facts
- Uber has agreed to take over Germany's Delivery Hero in a deal valuing the business at $14.8bn (£11bn/€12.9bn).
- Uber offered €41.50 per share to Delivery Hero shareholders.
- Uber will pay $13.7bn after accounting for its previous purchase of a quarter of Delivery Hero's shares, most recently in May.
- The deal combines Uber Eats with food delivery brands operating in 99 countries.
- The agreement also expands Uber's taxi service reach, according to the Guardian.
Uber has reached an agreement to take over the German takeaway company Delivery Hero in a $14.8bn (£11bn, or €12.9bn) deal that would create a global food delivery giant, according to the Guardian.
The US technology firm said it had offered to pay €41.50 a share to Delivery Hero’s shareholders, a price that values the business at $14.8bn.
Uber will pay $13.7bn after accounting for its previous purchases of a quarter of Delivery Hero’s shares. Its most recent purchase of Delivery Hero stock took place in May, the Guardian reported.
The Guardian reported that the agreement combines Uber Eats with food delivery brands operating in 99 countries, significantly widening the reach of the combined business.
The deal is also set to expand Uber’s taxi service reach, according to the Guardian’s reporting.
Why it matters
The acquisition would bring together two of the world's largest food delivery operations, extending Uber Eats into markets across 99 countries. For consumers and restaurants, the consolidation could reshape competition in a sector that has grown rapidly in recent years.
Frequently asked questions
How much is Uber paying for Delivery Hero?
Uber offered €41.50 a share, valuing Delivery Hero at $14.8bn (£11bn, or €12.9bn). Uber will pay $13.7bn after accounting for its previous purchases of a quarter of the company's shares.
What does the deal mean for Uber Eats?
According to the Guardian, the agreement combines Uber Eats with Delivery Hero's food delivery brands in 99 countries, creating a global food delivery giant.
Had Uber already invested in Delivery Hero before this deal?
Yes. Uber had previously purchased a quarter of Delivery Hero's shares, most recently in May, according to the Guardian.