U.S. nutrient transportation app DoorDash has agreed to get British rival Deliveroo for 2.9 cardinal pounds ($3.9 billion) successful cash
LONDON -- DoorDash, the ubiquitous U.S. nutrient transportation app, has agreed to get British rival Deliveroo for 2.9 cardinal pounds ($3.9 billion) successful cash, expanding its concern successful Europe, Asia and the Middle East.
San Francisco-based DoorDash volition wage 180 pence ($2.40) for each Deliveroo share, 29% much than the closing terms connected April 24, the time earlier the connection was announced, the companies said successful a associated connection earlier the London Stock Exchange opened for trading connected Tuesday.
The woody is DoorDash’s 2nd large planetary acquisition successful 3 years arsenic the institution expands from its accepted basal successful the U.S., Canada and Australia. After the acquisition of Deliveroo, and the 2022 acquisition of Helsinki-based Wolt Enterprises, DoorDash volition run successful much than 40 markets worldwide.
“I could not beryllium much excited by the imaginable of what DoorDash and Deliveroo volition beryllium capable to execute together,” DoorDash CEO Tony Xu said successful the statement.
Both companies were founded successful 2013, utilizing the past emerging exertion of smartphones to nexus restaurants and their customers to a web of transportation riders.
Deliveroo present operates successful 9 countries, including the U.K. and Ireland, which accounted for 59% of its concern successful 2023. It besides does concern successful France, Italy, Belgium, Singapore, the United Arab Emirates, Kuwait and Qatar.
The acquisition comes little than 3 months aft exertion concern institution Prosus agreed to bargain Amsterdam-based Just Eat Takeaway.com for 4.1 cardinal euros ($4.29 billion), boosting its nutrient transportation portfolio successful Europe.
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