Uber to Buy Delivery Hero’s Taiwan Business for $950 Million
- It aims to get approval to pick up Foodpanda by early 2025
- Uber’s meal delivery arm has outperformed expectations
Uber Technologies Inc. is buying Delivery Hero SE’s Foodpanda business in Taiwan for $950 million, shoring up its control of a key Asian market as it seeks to expand in the region.
Uber, whose meal delivery business outperformed globally during the most recent quarter, aims to complete the all-cash deal by the first half of 2025. The acquisition, one of Taiwan’s largest outside of the chip industry, also marks a retreat for Delivery Hero from Asia. Both parties stressed the takeover was contingent on regulatory approval — a potential wrinkle given Uber and Delivery Hero are now the two dominant players in the market.