Uber to Buy Delivery Hero in $14.8 Billion All-Cash Deal
The combination would nearly double Uber’s markets offering both mobility and delivery services.
Uber Technologies, Inc. (UBER) agreed to acquire Delivery Hero in an all-cash transaction that implied an equity value of $14.8 billion for the entire company, extending the ride-hailing group’s delivery reach across some of the world’s faster-growing economies. Adjusting for Delivery Hero shares Uber had already purchased, the transaction carried a value of about $13.7 billion.
Uber would pay €41.50 in cash for each Delivery Hero share. The companies expected the transaction to close in the second half of 2027, giving the deal a long runway to completion as Uber prepares to combine two large delivery networks spanning consumers, merchants and couriers.
The acquisition was designed to accelerate innovation and broaden the benefits Uber’s platforms offer consumers, merchants, couriers and drivers. Bringing Delivery Hero into the group would nearly double the number of markets where Uber provides both mobility and delivery, allowing it to apply the same platform across a wider geographic base.
“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. 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,” Uber Chief Executive Dara Khosrowshahi said.
The agreement followed a period of consolidation among global delivery platforms. DoorDash agreed in May 2025 to acquire Deliveroo for £2.9 billion in cash, a transaction that combined DoorDash’s operating model with Deliveroo’s presence in Europe and the Middle East. That offer represented a roughly 40% premium to Deliveroo’s three-month volume-weighted average price and was completed in October 2025 through a court-sanctioned scheme of arrangement.
Uber’s proposed acquisition was larger and carried a longer timetable, reflecting the scale of the combination and the work ahead before the expected closing. The €41.50-a-share consideration fixes the cash payment to Delivery Hero investors, while Uber’s previous stake purchases reduce the company’s remaining outlay relative to the headline equity value. If completed in the second half of 2027 as planned, the transaction would give Uber a broader base from which to pair delivery with mobility and spread its platform across nearly twice as many dual-service markets.