Uber to buy transportation logistics company Transplace in $2.25 billion deal

6 days ago

An Uber Freight truck.

Source: Travis Kalanick | Twitter

Uber Freight, the rideshare company's trucking division, said Thursday it's acquiring Transplace successful a woody that values the proscription logistics institution astatine $2.25 billion.

Uber shares dipped somewhat successful premarket trading.

Uber Freight volition get Transplace from TPG Capital, the backstage equity level of alternate plus steadfast TPG that acquired Transplace successful 2017. The woody consists of of up to $750 cardinal successful communal banal of Uber and the remainder successful cash.

It's a uncommon determination for Uber, which has spent the past twelvemonth shedding its profit-eating self-driving unit and flying taxi segment. Instead, Uber has been choosing to determination billions into strengthening its Uber Eats segment, acquiring alcohol transportation institution Drizly and food transportation work Postmates.

The deal, the companies said, volition make 1 of the starring logistics exertion platforms. The companies said the acquisition comes astatine a clip of accelerated translation successful logistics.

"The demands of a volatile marketplace and the expanding complexity of globalized logistics are clashing with industrial-age proscription technology," the institution said. "In the midst of capableness constraints and escalating proscription costs, shippers are adapting their operations astatine an expanding gait and looking for technology, support, and solutions that tin modernize their proviso concatenation and support captious goods, and the economy, moving."

The woody is expected to assistance Uber's trucking part scope profitability. The institution said it could assistance the conception interruption adjacent connected an adjusted EBITDA ground by the extremity of 2022.

The woody is inactive taxable to regulatory approval.

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