Uber Technologies has entered into a business combination agreement to acquire Delivery Hero in a voluntary takeover offer. Under the terms of the deal, Uber is offering €41.50 per share in cash, valuing the Berlin-based delivery giant at an equity value of $14.8 billion, or $13.7 billion when adjusted for Uber’s existing minority stake in the company.
The acquisition is designed to drastically expand Uber’s footprint, extending the world’s largest mobility and delivery platform to a total of 99 markets. The combined pro-forma gross bookings for the joint entities reached an impressive $236 billion in 2025. This transaction will nearly double the geographic reach of Uber’s highly profitable cross-platform strategy, which allows users to easily access both rides and food delivery within a single app.
To navigate potential antitrust hurdles and market overlaps, Delivery Hero has simultaneously agreed to a separate $1.6 billion deal with the New York-based investment firm SSW Partners. SSW will acquire Delivery Hero’s operations in 14 countries where Uber Eats and Delivery Hero already have significant overlapping presences, including key European markets like Spain, Poland, and Portugal. Uber will acquire the remaining 50 markets, which generated $42 billion in gross bookings last year and span major territories across Asia, Latin America, and the Middle East.
The management and supervisory boards of Delivery Hero have unanimously welcomed the takeover bid and intend to recommend that shareholders tender their shares. Prosus, a major backer, has already committed to tendering its 17 percent stake, guaranteeing that Uber’s economic interest will rise to approximately 53 percent upon launching the offer.
To support the transition and preserve Delivery Hero’s operational foundations, Uber has pledged not to make any workforce cuts at the Berlin headquarters until at least 2029. Additionally, the ride-hailing giant committed to investing €2 billion in Germany over the next five years, focusing on expanding its local corporate workforce, scaling operations, and launching autonomous vehicle partnerships. Subject to regulatory clearances, the transaction is expected to close in the second half of 2027.