Uber Technologies Inc.’s Freight unit is buying technology-focused logistics services provider Transplace in a cash and stock deal worth about $2.25 billion that extends the ride-hailing giant’s reach into the U.S. domestic shipping sector.
Uber reached an agreement to acquire Dallas-based Transplace from TPG Capital, the private-equity arm of investment firm TPG. Under the agreement, Uber will pay up to $750 million in common stock of Uber Freight’s parent company and the rest in cash to TPG Capital.
Uber said it plans to finance the approximately $1.5 billion cash portion of the transaction with a bond issue before the deal closes.
Source: WSJ