Uber to acquire Delivery Hero in €13bn deal

Uber Technologies Inc. has agreed to acquire Delivery Hero SE in a €13 billion ($15.1 billion) deal, combining the two companies to create the world’s largest mobility and delivery platform operating in 99 countries.

Under the voluntary takeover agreement, Uber will offer Delivery Hero shareholders €41.50 in cash per share, valuing the German food delivery company at €13 billion on a fully diluted basis.

The offer represents a premium of about 127 percent over Delivery Hero’s unaffected three-month volume-weighted average share price before May 8, 2026, and around 34 percent above the three-month average prior to the announcement.

The combined business is expected to generate pro-forma gross merchandise value (GMV) of $236 billion in 2025.

“Delivery Hero’s talented team has built an extraordinary business with strong local brands across some of the world’s fastest-growing delivery markets,” said Uber Chief Executive Officer Dara Khosrowshahi.

“By bringing our platforms together, Uber will extend affordable and reliable delivery to millions more people while creating more opportunities for merchants and couriers,” he added.

Delivery Hero Chief Executive Officer and Co-founder Niklas Östberg said the partnership would strengthen the company’s food delivery and quick commerce businesses while advancing its “Everyday App” strategy.

“We are excited about this opportunity with Uber and the possibilities it offers for our employees, shareholders and partners,” Östberg said.

As part of the agreement, Uber pledged to retain Delivery Hero’s headquarters in Berlin and maintain its workforce there until at least 2029.

Uber also committed to making commercially reasonable efforts to invest €2 billion in Germany through 2031, focusing on expanding its local workforce, growing its nationwide business and supporting autonomous vehicle deployment and partnerships with the German automotive industry.

The acquisition is expected to significantly expand Uber’s global presence while strengthening its position in the fast-growing food delivery and quick commerce sectors.