Uber has agreed to acquire Delivery Hero in a deal valued at approximately $14.8 billion, following the German food delivery company’s disclosure that it was in advanced takeover talks with the US ride-hailing giant.

Under the terms of the voluntary public takeover offer, Uber will pay €41.50 per share in cash, valuing Delivery Hero at around €13 billion. 

The acquisition will significantly expand Uber’s global delivery business, adding Delivery Hero’s portfolio of brands, including Foodpanda, Glovo, Talabat, HungerStation and PedidosYa. The combined business will operate in 99 markets across mobility, food delivery and quick commerce.

“Delivery Hero’s talented team has built an extraordinary business, with beloved local brands and leading positions across many of the world’s fastest-growing delivery markets,” said Dara Khosrowshahi, CEO of Uber. 

“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.”

To support regulatory approval, Delivery Hero will divest operations in 14 markets to investment firm SSW Partners before the transaction closes. Uber has also committed to maintaining Delivery Hero’s Berlin headquarters and workforce through at least the end of 2029 and plans to invest €2 billion in Germany by 2031.

The companies expect the transaction to close in the second half of 2027, subject to shareholder acceptance and customary regulatory approvals.