An Uber transport truck.
Source: Travis Kalanick | Twitter
Uber Freight, the rideshare company’s trucking company division, said Thursday it is acquiring Transplace in a deal that values the transportation logistics company at $ 2.25 billion.
Uber Freight will do it acquire Transplace by TPG Capital, il private equity platform of alternative asset TPG company. The deal consists of of up to $ 750 million in common action of Uber.
It’s rare move for Uber, which spent the last year losing its autonomous driving unit and the flying taxi segment. Instead, Uber chose to invest billions in strengthening its Uber Eats segment by acquiring alcohol delivery company Drizly and Postmates.
The companies said the acquisition comes in one moment of accelerated transformation in the logistics.
“The requests of a bird market and growing complexity of globalized logistics collides with transport in the industrial age technology, “the company said.” In between of capacity constraints and increasing transportation costs, shippers are adapting their operations to an increase pace and watching for technology, support, and solutions in able to modernize their supply chain and maintain critical merci, and the economy, moving. “
This is a development story. please check back for updates.
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