Uber to acquire Delivery Hero in €13B deal, creating platform spanning 99 countries

Uber announced it will acquire Delivery Hero in a 13 billion euro deal that creates a platform spanning 99 countries. Uber and one of its affiliates entered into a business combination agreement to acquire Delivery Hero, extending the mobility and delivery platform to 99 countries. Under the terms of the voluntary takeover offer, Uber will offer Delivery Hero shareholders 41.50 euros per share in cash, implying a fully diluted equity value of 13.0 billion euros. Berlin-headquartered Delivery Hero operates in around 65 countries across Asia, Europe, Latin America, the Middle East and Africa. It began as a food delivery service in 2011 and runs its own delivery platform on four continents. Delivery Hero is pioneering quick commerce, aiming to deliver groceries and household goods in under 1 hour, often within 20 to 30 minutes. Dara Khosrowshahi, CEO of Uber, said Delivery Hero's talented team has built an extraordinary business with beloved local brands and strong positions across fast-growing delivery markets. Niklas Östberg, CEO and Co-Founder of Delivery Hero, said the company is excited about the opportunity with Uber. Uber pledged to retain Delivery Hero's headquarters and make no workforce changes in Berlin until at least 2029. Uber committed to invest 2 billion euros in Germany through 2031.