Uber to Buy Transplace for About $2.25 Billion
22 July 2021 - 11:48PM
Dow Jones News
By Michael Dabaie
Uber Technologies Inc.'s Uber Freight agreed to acquire
Transplace for about $2.25 billion.
The deal will consist of up to $750 million in Uber common stock
and the rest in cash.
Uber will acquire managed transportation and logistics network
company Transplace from TPG Capital, the private equity platform of
alternative asset firm TPG.
"This is a significant step forward, not just for Uber Freight
but for the entire logistics ecosystem," said Lior Ron, head of
Uber Freight.
"Our expectation is that shippers will see greater efficiency
and transparency and carriers will benefit from the scale to drive
improved operating ratios," Transplace Chief Executive Frank
McGuigan said.
TPG Capital acquired Transplace in 2017. Transplace has invested
heavily in technology and other growth initiatives.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 22, 2021 09:39 ET (13:39 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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