Uber Technologies has announced an agreement with Delivery Hero to acquire its foodpanda delivery business in Taiwan for $950 million. Subject to customary approvals and conditions, the transaction is expected to close in the first half of 2025.

'This acquisition will bring together the companies' complementary merchant, delivery partner and consumer bases into a single app, creating significant value', the US group highlights.

In addition, the two delivery service platforms have also entered into an agreement whereby Uber will purchase $300 million of Delivery Hero's newly issued common stock.

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