Uber Technologies Inc. has agreed to purchase Delivery Hero's foodpanda delivery service in Taiwan, in a deal worth $950 million paid in cash. This acquisition is expected to be finalized in the first half of 2025.
Once the sale has been concluded, all local foodpanda customers, merchants, and delivery partners will switch to Uber Eats, according to a statement released by Uber Technologies.
It's important to note that the acquisition of foodpanda Taiwan is still pending regulatory approval and that it is subject to other customary closing conditions.
In a separate but related development, the two companies have signed an agreement for Uber to buy $300 million worth of newly issued ordinary shares in Delivery Hero.