Uber Freight to Acquire Transplace
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Thursday, July 22, 2021
Data management, Automotive, Technology, Logistics, Supply chain management, Transport, Software, Fleet management, Freight transport, Location-based software, Uber, Lior Ron, TPG Capital, Cargo, Transport, California, Industry economics), Uber Freight, Transplace, TPG, UBER FREIGHT, TRANSPLACE, TPG
Uber Freight and Transplace have entered into a definitive agreement for Uber Freight to acquire Transplace for approximately $2.25 billion, consisting of up to $750 million in common stock of Uber Freights parent company, Uber Technologies, Inc. (NYSE: UBER) and the remainder in cash.
Key Points:
- Uber Freight and Transplace have entered into a definitive agreement for Uber Freight to acquire Transplace for approximately $2.25 billion, consisting of up to $750 million in common stock of Uber Freights parent company, Uber Technologies, Inc. (NYSE: UBER) and the remainder in cash.
- Uber Freight will acquire 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.
- The combination of Uber Freight and Transplace will optimize the movement of freight across the entire marketplace and deliver best-in-class services to shippers, while also unlocking opportunities for carriers.