American technology giant Uber has officially announced the acquisition of German group Delivery Hero. In a deal worth about $14.8 billion, Uber will become the new owner of the Ukrainian business of the Glovo service.
American technology giant Uber has officially announced the acquisition of German group Delivery Hero. In a deal worth about $14.8 billion, Uber will become the new owner of the Ukrainian business of the Glovo service.
As indicated in the press release of Uber, the board of directors of both parties has already unanimously approved the deal. Uber will pay 41.5 euros for each share of the European competitor. After the transaction is completed, Uber’s global mobility and delivery platform is expected to expand to 99 markets with a combined gross booking volume of about $236 billion (according to figures for 2025).
Under the terms of the acquisition, Uber will acquire Glovo’s business (owned by Delivery Hero) in Ukraine, as well as in Armenia, Georgia, Croatia, Italy, Kazakhstan and a number of other countries in Eastern Europe, Central Asia and Africa. At the same time, Glovo’s business in neighboring Moldova, Poland, Romania, as well as Spain and Portugal will be transferred to New York investment firm SSW Partners.
Overall, Uber will retain Delivery Hero operations in 50 countries with a combined order volume of $42 billion by 2025. In return, businesses in 14 other countries (including Austria, Greece, Norway, and Sweden), where the two giants had significant overlap, will be sold to SSW Partners for $1.6 billion for subsequent separate resale. This allowed Uber to minimize regulatory risks and avoid tough antitrust restrictions in the EU.
On the eve of the announcement of the deal, Uber already controlled a significant part of the competitor: the company owned 24,77% of the shares directly and another 11,74% through financial instruments. In addition, the investment holding Prosus NV, which owns 17% of Delivery Hero shares, agreed to sell its entire stake to the American giant. At the start of trading after the announcement, Uber shares increased by 0,3%, and Delivery Hero by 0,2%. In general, since the beginning of the year, the capitalization of the German company has increased by 68% — to 11.6 billion euros.
The new owners have promised to keep Delivery Hero’s headquarters in Berlin and refrain from staff cuts until at least 2029. Uber also plans to invest 2 billion euros in Germany over the next five years.
Delivery Hero first invested in Glovo back in 2018. At the end of 2021, the German giant agreed to buy out a controlling stake, valuing the entire business of the Spanish startup at 2.3 billion euros. The deal was officially closed in July 2022, after which Delivery Hero concentrated more than 94% of Glovo shares.
