Uber Technologies Inc. has agreed to acquire Boston-based catering platform ezCater for $2.3 billion in an all-cash transaction. The deal would expand Uber Eats into corporate food delivery and the U.S. workplace meals market.
The acquisition would combine ezCater’s business-to-business catering expertise with Uber Eats’ consumer base and Uber for Business’ corporate relationships. ezCater has a network of more than 140,000 restaurants. It generated over $2.5 billion in gross bookings in the trailing 12 months and is profitable on a non-GAAP operating income basis. Uber expects the acquisition to be margin accretive.
The deal is expected to close in the coming months, pending regulatory approval.