Uber to Buy ezCater For $2.3 Billion to Expand Corporate Food Delivery Business

11:43 AM EDT, 10/06/2026 (MT Newswires) -- Uber Technologies (UBER) agreed to acquire US-based catering platform ezCater in a $2.3 billion cash deal, as the ride-hailing giant looks to expand its food delivery business to more corporate customers. EzCater, a food technology platform for workplaces, connects businesses with more than 140,000 restaurants to manage their food requirements, including for meetings and events. The transaction is expected to combine ezCater's catering expertise with Uber Eats' consumer and restaurant reach and Uber for Business' corporate relationships. "Catering is a big business, and can be a huge revenue stream for restaurants," Uber Chief Executive Dara Khosrowshahi said in a joint Tuesday statement. "With Uber's reach, we can bring that experience to millions more customers and help restaurants win more of these valuable orders." Uber expects the acquisition to create more high-value catering orders for restaurants. The deal, which requires regulatory approval, is expected to close in the coming months. Uber's shares edged down 0.4% in Tuesday trading, with the stock having lost 15% so far this year. "We're energized to bring our catering and (business-to-business) expertise to Uber's global ecosystem of customers, merchants and couriers," ezCater CEO Nihad Rahman said. EzCater generated more than $2.5 billion in gross bookings over the past 12 months, up in the high teens from a year earlier. The business is expected to be margin accretive, according to the companies. Wedbush Securities said last month that Uber's cross-platform engagement remains an "underappreciated structural advantage," citing customers who use its ride hailing and food delivery services spending about three times more than single-product users. Uber announced plans in September to reduce its workforce by roughly 10% as part of an effort to simplify the organization and free up resources for growth. In July, Uber agreed to purchase Germany-based Delivery Hero in a deal representing an equity value of $14.8 billion. Earlier in the year, the ride-hailing company struck an agreement to buy German chauffeur service provider Blacklane. In the broader industry, Grab (GRAB) agreed to acquire a 60% stake in the digital financial services platform of Singapore-based Advance Intelligence for $1.49 billion in September. Grab also agreed to buy Delivery Hero's Taiwanese food delivery operations for $600 million earlier in 2026. Last year, food delivery company DoorDash (DASH) bought its UK-based counterpart Deliveroo. Price: 69.36, Change: -0.12, Percent Change: -0.17