July 22 (Hfrance.fr) - Uber Technologies Inc 's (UBER.N) acquires the transport logistics company Transplace for around 2.25 billion eurose dollars to private equity firm TPG Capital, in an agreement that should accelerate the path from unity to profitability.
The acquisition, announced by Uber on Thursday, includes up to $ 750 million in the company's common stock and the remainder in cash.
Uber Freight acts as a middleman in the fragmented long-haul trucking industry, connecting truckers and shippers. Transplace works with shipping brokers and carriers to manage supply chains and plan logistics, including cross- shipments.
The Agreement marks a break with Uber 's strategy. in recent years, to sell capital-intensive businesses, such as its autonomous and flying taxi units, to achieve elusive long-term profitability. learn more
Instead, the company doubled its pandemic winner Uber Eats food delivery service by acquiring rival start-up Postmates and last-mile alcohol delivery company Drizly.
Uber is also expanding its grocery delivery business, this week announcing a partnership with Albertsons Companies Inc (ACI.N) and Costco Wholesale Corp (COST.O) .
The acquisition of Transplace will strengthen Uber's trucking unit at a time of accelerating logistics transformation, the rideshare company said in a statement. .
"This transaction should accelerate Uber Freight 's path to profitability and help the segment break even on an adjusted EBITDA basis by here by the end of 2022 "Uber said.
Transplace on its website says it has 62,000 unique users and manages $ 11 billion in freight.
Transplace is expected to post EBITDA of more than $ 100 million this year, Uber said in a presentation to investors. He did not Report from Tiyashi Datta and Subrat Patnaik to Bengaluru, Tina Bellon in Austin, Texas; Edited by Aditya Soni and Steve Orlofsky
Our standards: The principles of confiance from Thomson Hfrance.fr.