Uber to buy ezCater for $2.3 billion in cash
UBER•Uber will acquire catering platform ezCater in an all-cash deal valued at $2.3 billion. ezCater’s gross bookings topped $2.5 billion over the trailing 12 months, and Uber expects the acquisition to be margin accretive.
1. Deal adds workplace meals
Uber said it will buy ezCater for $2.3 billion in cash, adding workplace meals and group ordering to Uber Eats and drawing on Uber for Business relationships. ezCater serves more than 140,000 U.S. restaurants, with average order values above $400.
2. Bookings and profitability
ezCater’s gross bookings topped $2.5 billion over the trailing 12 months, growing at a high-teens year-over-year rate. The platform is profitable on a non-GAAP operating income basis, and Uber expects the acquisition to be margin accretive.
