Uber Freight, the rideshare company’s trucking division, said Thursday it’s acquiring shipping software company Transplace in a deal that values the transportation logistics company at $2.25 billion.
Uber shares were slightly positive Thursday morning.
Uber Freight will acquire Transplace from TPG Capital, the private equity platform of alternative asset firm TPG that acquired Transplace in 2017. The deal consists of of up to $750 million in common stock of Uber and the remainder in cash.
It’s a rare move for Uber, which has spent the last year shedding its profit-eating self-driving unit and flying taxi segment. Instead, Uber has been choosing to pour billions into strengthening its Uber Eats segment, acquiring alcohol delivery company Drizly and food delivery service Postmates.
Continue reading Uber to buy a company that makes software to manage shipping for $2.25 billion on CNBC
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