Uber Technologies has finalized a $14.8 billion acquisition of Delivery Hero, according to a report from Inside Retail Asia. The deal, reached after several days of negotiations, marks one of the largest consolidations in the food delivery industry.
The acquisition will significantly expand Uber's global delivery business through Delivery Hero's portfolio of brands, which includes operations in over 70 countries. Delivery Hero's platforms, such as Foodpanda and Talabat, will complement Uber Eats in key markets across Asia, Europe, and the Middle East.
The deal comes amid ongoing consolidation in the online food delivery sector as companies seek to achieve profitability through scale. Uber's acquisition of Delivery Hero is expected to face regulatory scrutiny in several jurisdictions, but the combined entity would hold a dominant position in many markets worldwide.