Uber Technologies has agreed to acquire German food delivery platform Delivery Hero in a deal valued at $14.8 billion. Uber will pay €41.5 per share, equivalent to $47.61, and the transaction will double the number of markets where Uber offers both mobility and delivery services, according to CEO Dara Khosrowshahi. As part of the agreement, Delivery Hero will sell its Turkish platform Yemeksepeti and foodora in markets including Austria to New York-based investment firm SSW Partners, which will also acquire Delivery Hero businesses in a total of 14 markets for approximately $1.6 billion. Uber has committed to no workforce changes at Delivery Hero's Germany headquarters until 2029 and plans a nearly $2.3 billion investment in Germany over five years.
Delivery Hero SEDelivery Hero is acquired at €41.5 per share, a premium to market price.
Uber Technologies IncUber acquires Delivery Hero in a $14.8B deal, expanding its delivery footprint.
SSW Partners acquires Delivery Hero businesses in 14 markets for ~$1.6B.