Uber has acquired Transplace for about $2.25 billion.
Uber Freight acquires Transplace for $2.25B Kirsten Korosec @kirstenkorosec / 1:55 PM GMT • July 22, 2021 Image Credits: Uber Freight Uber Freight, the logistics business spun out of Uber in 2018, has acquired Transplace for about $2.25 billion from private equity group TPG Capital, according to regulatory filings. The deal announced Thursday will involve $750 million in Uber stock with the remainder in cash. The acquisition of Transplace marks a ramping up of Uber Freight’s business as it aims to carve out market share in its existing markets and an expansion in Mexico. Uber Freight also sees the acquisition as a means to accelerate the company’s path to profitability and help the segment to break even on an Adjusted EBITDA basis by the end of 2022, according to the company. The union will fold one of the largest managed transportation and logistics networks into Uber Freight’s platform, which connects truck drivers with shippers that need cargo delivered. Uber Freight’s broke