WASHINGTON (dpa-AFX) - Uber Technologies Inc. (UBER) said Tuesday it has agreed to acquire ezCater, a food technology platform for workplaces, in an all-cash transaction valued at $2.3 billion.
The deal combines ezCater's catering expertise with Uber Eats' restaurant reach and Uber for Business' corporate relationships.
ezCater helps businesses manage food needs and order from more than 140,000 restaurants, supporting meetings, events and recurring corporate catering.
ezCater generated more than $2.5 billion in gross bookings over the past 12 months, up in the high teens year-over-year, and is profitable on a non-GAAP operating income basis. The business is expected to be margin accretive, with average order values above $400.
The transaction is expected to close in the coming months.
Uber shares were up nearly 1% in pre-market trading after closing at $69.48 on Monday.
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