Uber, a ride-hailing tycoon, announced on Tuesday ( May 14 ) that it has reached a deal with Delivery Hero SE to purchase Taiwan’s Foodpanda delivery business for US$ 950 million.
By the first quarter of 2025, the US-based company plans to finish the all-cash merger of Foodpanda Taiwan, it said in a statement.
According to San Francisco-based Uber, the deal would be one of the largest global purchases made in Taiwan since the semiconductor industry, with the exception of the silicon sector, according to regulatory approval.
According to Pierre- Dimitri Gore- Durant, senior vice president of shipping at Uber,” Taiwan is a fiercely competitive market, where on-line food delivery platforms also only make up a small portion of the food delivery landscape.”
” We’re so excited about the chance to offer this deal even more comfort and value,” said the company.
Uber described the offer as” a vote of confidence” in the island’s extended- word charm to international businesses and investors.