Uber to Acquire Delivery Hero in $14.8 Billion Deal — Uber Technologies, Inc.

Event summary

Uber to acquire Delivery Hero for $14.8 billion, extending its reach to 99 markets with combined pro-forma Gross Bookings of $236 billion in 2025.
SSW Partners will acquire Delivery Hero’s businesses in 14 overlapping markets for approximately $1.6 billion.
Uber will offer €41.50 per share to Delivery Hero shareholders, with the transaction expected to close in the second half of 2027.
Uber commits to invest €2 billion in Germany over the next five years, focusing on local workforce development and autonomous vehicle deployments.

The big picture

Uber’s acquisition of Delivery Hero represents a significant consolidation play in the global food delivery market, aiming to leverage scale and cross-platform synergies. The deal underscores the strategic importance of local brands and merchant relationships in driving incremental demand and engagement. With combined pro-forma Gross Bookings of $236 billion, Uber is positioning itself to dominate both mobility and delivery services across 99 markets.

What we're watching

Regulatory Approval: The pace at which Uber secures necessary regulatory clearances will determine the timeline for closing the deal.
Integration Challenges: How Uber integrates Delivery Hero’s local brands and merchant relationships into its global platform will impact long-term value creation.
Market Competition: Whether the combined entity can sustain competitive advantages in key markets against regional players and other global delivery platforms.