Uber acquires Delivery Hero, the operator of foodpanda, a rival food delivery service.

Uber, the company that operates ride-hailing and food delivery services, has acquired Delivery Hero, a German company that operates rival foodpanda and other services. The acquisition will be conducted through a tender offer of €41.50 (approximately ¥7,710) per share, bringing Delivery Hero's market capitalization to $14.8 billion (approximately ¥2.4 trillion). Uber already holds some shares, so the acquisition will be worth $13.7 billion (approximately ¥2.2 trillion).

Uber Technologies, Inc. - Uber Announces Acquisition Offer for Delivery Hero

With this acquisition agreement, Uber will expand its ride-hailing and delivery platform to 99 countries and regions, and is projected to reach $236 billion (approximately 38.3 trillion yen) in revenue.

In addition, the following businesses of Delivery Hero will be acquired separately by investment firm SSW Partners for $1.6 billion (approximately 259 billion yen): 'foodra' (Austria, Czech Republic, Norway, Sweden), 'efood' (Greece), 'Foody' (Cyprus), 'Glovo' (Moldova, Poland, Portugal, Romania, Spain), 'PedidosYa' (Chile, Ecuador), and 'Yemeksepeti' (Turkey).

foodora - Food and groceries delivery | foodora

Therefore, the following businesses will come under the umbrella of Uber. Some businesses will either become part of Uber or SSW Partners depending on the country or region.

- 'Baedal Minjok' (South Korea)
• 'foodora' (Hungary)
• 'foodpanda' (Bangladesh, Cambodia, Hong Kong, Laos, Malaysia, Myanmar, Pakistan, Philippines, Singapore)
• 'Glovo' (Armenia, Bosnia and Herzegovina, Bulgaria, Côte d'Ivoire, Croatia, Georgia, Italy, Kazakhstan, Kenya, Kyrgyzstan, Montenegro, Morocco, Nigeria, Serbia, Tunisia, Uganda, Ukraine)
• 'Hungerstation' (Saudi Arabia)
• 'PedidosYa' (Argentina, Bolivia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, Uruguay, Venezuela)
• 'talabat' (Bahrain, Egypt, Iraq, Jordan, Kuwait, Oman, Qatar, UAE)

Uber CEO Dara Khosrowshahi said, “Delivery Hero’s outstanding team has built a beloved local brand and established itself as a leader in the world’s fastest-growing delivery market. Integrating Delivery Hero and Uber’s platforms will bring affordable and reliable delivery to millions more people in many of the world’s most vibrant economies, while creating even more opportunities for merchants and drivers. We believe that working together will double the number of markets we serve that offer both ride-hailing and delivery, expand our proven platform, and create significant long-term value for our customers and shareholders.”

Delivery Hero CEO Niklas Ostberg also expressed his excitement for the new business developments, stating, 'I have high expectations for the potential that this collaboration with Uber will bring to our employees, shareholders, and partners. Uber's global ride-hailing and delivery platform and our shared commitment to innovation will further strengthen Delivery Hero's strengths in local food delivery and quick commerce, and further advance our 'Everyday App' strategy for our customers.'

Incidentally, in Taiwan, Uber's acquisition of foodpanda was rejected by the Fair Trade Commission.