Uber Technologies will acquire Transplace, a logistics company owned by TPG Capital, for $2.25bn in the company’s biggest bet on the trucking business.
TPG will receive as much as $750m in Uber stock and the rest in cash. The transaction is expected to close later this year or in the first half of 2022, according to a company presentation outlining the deal. Uber shares rose slightly on Thursday morning. In 2020 Uber offloaded the autonomous driving business but kept freight. Uber Freight pairs trucking companies with those seeking to transport loads. Uber said this month that it is expanding to smaller freight loads. Thursday’s deal is an indication of the importance of this often-overlooked part of Uber’s business.
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