German food and grocery delivery service Delivery Hero announced that it has entered into a merger agreement with the American company Uber Technologies. The deal is valued at €13 billion, Delivery Hero said in a statement.

Under the terms of the deal, Uber will offer the German company’s shareholders €41.5 per share. The offer represents a 127% premium to the average share price over the three months through May 8, 2026. The transaction has been approved by Delivery Hero’s supervisory board and management board, which intend to recommend that shareholders accept the offer after the publication of the official documentation. The merger will create a platform operating in 99 countries. Delivery Hero said the combination will help accelerate the rollout of new technologies and expand the range of services in food delivery and quick commerce.

Uber has committed to keeping Delivery Hero’s headquarters in Berlin until at least 2029 and not reducing the company’s workforce in the city during that period. In addition, the American company plans to invest €2 billion in Germany’s economy over five years, including business expansion, the creation of new jobs, and projects in autonomous transport. Separately, Delivery Hero said that investment firm SSW Partners will acquire the service’s assets in 14 markets where the companies compete with each other. That deal is valued at about €1.4 billion. The completion of the merger between Delivery Hero and Uber is expected in the second half of 2027 after receiving the necessary regulatory approvals.