Uber agreed to acquire ezCater for $2.3 billion

• Uber Technologies (NYSE:UBER) agreed to acquire workplace catering platform ezCater in an all-cash transaction valued at $2.3 billion.
• The deal expands Uber (NYSE:UBER) into the corporate B2B food service market using ezCater's network of over 140,000 national restaurants.
• The acquired catering business generated over $2.5 billion in Gross Bookings over the trailing twelve months, with average order values above $400.

Uber Technologies (NYSE:UBER) entered into a definitive agreement to acquire workplace catering provider ezCater for $2.3 billion in cash.

The acquisition combines ezCater's corporate food ordering tools with the consumer reach of Uber Eats and enterprise connections of Uber for Business.

ezCater generated over $2.5 billion in trailing twelve-month Gross Bookings while maintaining non-GAAP operating profitability and high-teens year-over-year growth.

Uber Technologies operates global ride-hailing networks, freight logistics services, and on-demand food delivery platforms through Uber Eats.

The transaction is expected to close in the coming months subject to customary regulatory approvals and closing conditions.