Uber Freight acquires Transplace for $2.25B
Summary
Uber Freight acquired Transplace for about $2.25 billion, paying $750 million in Uber stock and the remainder in cash. The deal folds one of the largest managed transportation and logistics networks into Uber Freight's platform to expand market share and its presence in Mexico while accelerating a path to profitability and targeting adjusted EBITDA break-even by the end of 2022. Uber Freight will integrate Transplace's services into its platform while continuing to operate its brokerage independently. The combined company expects to improve shipper efficiency and transparency and reduce empty miles for carriers, producing operational and environmental benefits.
Classifications
industries
Telecommunications
applications
Accounting and Taxes
AskAI Classifications
Labels
Logistics Software
Transportation Management Systems (TMS)
SaaS
Linked Companies
Transplace
$1B+
Uber Freight
$1B+