Uber to acquire ezCater for $2.3 billion

Uber Technologies, Inc. (NYSE: UBER) and ezCater, Inc. S. 3 billion.

ezCater says it helps businesses manage food needs and place orders from over 140000 restaurants nationwide. Its platform covers meetings, events and recurring enterprise catering needs, and includes tools to manage ordering and food spend plus 24/7 customer support. Uber said the deal combines ezCater’s catering and B2B expertise with Uber Eats’ global reach among consumers and restaurants, and Uber for Business’s relationships with organizations of all sizes. The companies said restaurants will be able to grow through larger orders and new diners, while customers will be able to order food for groups more simply and reliably for workplace meals and events.

5 billion in gross bookings over the trailing twelve months and the figure rose in the high teens year over year. The business is profitable on a non-GAAP operating income basis and is expected to be margin accretive. ezCater's average order values are over $400. Dara Khosrowshahi said catering is a big business and can be a huge revenue stream for restaurants.

He said Nihad Rahman and his team have built an amazing platform, and Uber's reach can bring that experience to millions more customers and help restaurants win more of these valuable orders. Rahman said ezCater is the leading platform for workplace catering and a major growth channel for restaurant partners. He said the company is energized to bring its catering and B2B expertise to Uber's global ecosystem of customers, merchants and couriers. The transaction is expected to close in the coming months, subject to regulatory approvals and other customary closing conditions.

Uber said it started in 2010 to solve a simple problem: how to get access to a ride at the touch of a button. The company said it has now completed more than 79 billion trips as it builds products aimed at bringing people closer to where they want to be. Uber said ezCater is the No. S.

and said it helps organizations manage food needs and order from over 140,000 restaurants nationwide. Uber said ezCater offers flexible and scalable solutions for workplace meal programs and one-off meetings, supported by 24/7 service and business-grade reliability. Uber said restaurant partners use ezCater to reach new high-value customers and large orders. P.

Morgan Securities LLC is serving as financial advisor to Uber, while Covington & Burling LLP is serving as legal counsel to Uber and Freshfields US LLP is serving as legal counsel to Uber in connection with global antitrust matters. Evercore is serving as financial advisor to 7. ezCater said Davis Polk & Wardwell LLP is serving as its legal counsel. The press release included forward-looking statements about Uber’s future business expectations and said those statements involve risks and uncertainties.

It said actual results may differ materially from predicted results and that reported results should not be taken as an indication of future performance. The release said forward-looking statements include non-historical statements identified by terms such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions, including negatives of those terms.

It added that such statements involve known and unknown risks, uncertainties and other factors that could cause Uber’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied. The release said those risks and uncertainties relate, among other things, to the The proposed acquisition of ezCater carries risks, including delays or a failure to obtain required regulatory approval, or approval with conditions that could harm Uber or reduce the expected benefits of the deal.

Uber also cited the possibility that closing conditions may not be met on time or at all, along with costs, expenses or other difficulties tied to the acquisition. Other risks include not realizing expected benefits and synergies on the projected timetable or at all, potential disruption to relationships with employees, customers, couriers, merchants, suppliers, delivery partners and other business partners, and the risk of litigation or regulatory action involving Uber and/or ezCater. Uber said it may be unable to retain key personnel and that changes in legislation or government regulation could affect Uber or ezCater.

The company also flagged a possible impact on Uber’s financial results, as well as economic, financial, social or political conditions that could adversely affect Uber, ezCater or the proposed transaction. For additional information on risks and uncertainties that could cause actual results to differ from those predicted, see Uber’s most recent annual report on Form 10-K for the year ended December 31, 2025, and subsequent quarterly reports and other filings submitted to the Securities and Exchange Commission from time to time.

The information in this release is as of the date of the press release, and any forward-looking statements are based on assumptions Uber believes are reasonable as of that date. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to Uber on the date hereof. Uber says it undertakes no duty to update the information unless required by law.