Uber’s €13B Delivery Hero deal reshapes global food delivery
The all-cash offer would combine two global delivery networks across 99 countries and create one of Europe’s largest technology acquisitions.
Uber’s proposed €13B acquisition of Delivery Hero would reshape global food delivery and extend Uber’s strategy of combining mobility, logistics and local commerce on one platform.
What happened
Uber agreed to acquire Berlin-based Delivery Hero through an all-cash offer of €41.50 per share, implying a fully diluted equity value of approximately €13B, or $14.8B.
The combined group would operate across 99 countries. Uber also committed to retain Delivery Hero’s Berlin headquarters and workforce until at least 2029 and invest €2B in Germany through 2031.
Delivery Hero brings a collection of local consumer brands, merchant relationships and quick-commerce operations. The transaction remains subject to regulatory review and has not yet completed.
Why it matters
Food delivery rewards scale. Larger platforms can spread technology, logistics and marketing costs across more orders while giving consumers and merchants access to denser networks.
Uber would also gain more markets where it can combine delivery with ride-hailing, subscriptions and advertising. Delivery Hero, meanwhile, would become part of a larger platform with stronger access to capital and global product infrastructure.
The bigger picture
The deal would be one of the largest technology acquisitions in European history, but its scale also creates antitrust risk. Regulators are likely to examine countries where the two platforms overlap and whether the combination could reduce competition for restaurants, couriers or customers.
Integration will be equally difficult. Delivery Hero operates many local brands with different systems and market positions. The strategic logic is clear, but the value will depend on whether Uber can consolidate technology and operations without weakening those local businesses.