BERLIN — Uber agreed to acquire Delivery Hero in a deal valuing the company at $14.8 billion, pending shareholder and regulatory approval, with a planned closure in the second half of 2027. The deal combines Uber Eats with Delivery Hero's brands across 99 countries.

Uber offered €41.50 per share to Delivery Hero shareholders, representing a roughly 34% premium on Delivery Hero's three-month volume-weighted average share price prior to the announcement. Uber will pay $13.7 billion for the acquisition after accounting for its previous purchases of Delivery Hero shares. The acquisition is conditional on a minimum acceptance threshold of 50% plus one share of Delivery Hero's outstanding share capital.

Uber already held a stake of just under 37% in Delivery Hero including derivatives prior to the deal. In May 2025, Uber raised its stake in Delivery Hero to nearly 37% from 25% by acquiring shares from Aspex Management. Prosus agreed to sell its 17% shareholding in Delivery Hero to Uber. Delivery Hero's board and executives unanimously supported the takeover, and the board intended to recommend the takeover to shareholders.

Delivery Hero's brands include foodpanda in Asia, PedidosYa in Latin America, and talabat in the Middle East. The combined company booked $236 billion in orders in 2025. Uber will offer taxi services and food delivery in 58 markets after the deal completes, up from 34. The acquisition could add more than 50 million consumers to Uber's platform.

Delivery Hero will sell its operations in 14 markets to SSW Partners, a New York-based private equity firm, for approximately $1.6 billion. The operations sold to SSW Partners include the Glovo app in Portugal and Spain, foodora in Norway and Sweden, and Yemeksepeti in Turkey.

Uber maintains Delivery Hero's headquarters in Berlin and pledged to make no changes to Delivery Hero's workforce until at least 2029. Uber pledged to invest €2 billion in Germany over the next five years.

Uber expects the deal to generate $1.2 billion in run-rate synergies within 18 months of closing. Uber forecasts modest non-GAAP EPS accretion at close and high single-digit accretion by year three.

"By bringing our platforms together, we will extend affordable, reliable delivery to many millions more people in many of the world's most dynamic economies, while creating more opportunities for merchants and couriers," Uber Chief Executive Dara Khosrowshahi said. "Together, we'll nearly double the number of markets where we offer both mobility and delivery services, scaling a proven platform that we believe will create significant long-term value for our customers and shareholders."

"The food delivery business is highly competitive and scale-dependent," Kristin Skogen Lund, Chair of Delivery Hero's Supervisory Board, said. "It is challenging to build from a European base, yet we have achieved an enormous amount over 15 years. Joining forces with a strong partner now is the right move for Delivery Hero to best secure its future competitiveness and ability to deliver value for all our stakeholders."

"I'm grateful to our people for building this company over 15 years and we look forward to this great next chapter together," Niklas Östberg, Delivery Hero's founder, said. Niklas Östberg founded Delivery Hero in Germany in 2011, and the company listed on the Frankfurt Stock Exchange in 2017. Niklas Östberg agreed to leave Delivery Hero in May 2025.

The acquisition consolidates two of the largest food delivery platforms globally, creating a combined entity operating in 99 countries. The $14.8 billion valuation reflects the premium placed on scale in the food delivery business, which Delivery Hero's supervisory board chair described as highly competitive and scale-dependent. The deal follows Uber's stake increase in May 2025 and Prosus's agreement to sell its 17% shareholding, indicating coordinated support among major shareholders for the acquisition.

The transaction includes significant European commitments, with Uber pledging to maintain Delivery Hero's headquarters in Berlin and invest €2 billion in Germany over five years while making no workforce changes until at least 2029. However, Delivery Hero's divestiture of 14 markets to SSW Partners for $1.6 billion, including operations in Portugal, Spain, Norway, Sweden, and Turkey, reduces the combined company's footprint in Europe as it integrates delivery brands from Asia, Latin America, and the Middle East.