Uber to Acquire ezCater for $2.3 Billion in Cash

Uber Technologies Inc. announced Tuesday that it will acquire ezCater, a food technology platform specializing in workplace catering, in an all-cash transaction valued at $2.3 billion.

The acquisition integrates ezCater's corporate catering expertise with the Uber Eats restaurant network and the existing Uber for Business client base. ezCater currently manages business food orders from more than 140,000 restaurants and reported over $2.5 billion in gross bookings during the last 12 months.

Financial data indicates that ezCater is profitable on a non-GAAP operating income basis, with average order values exceeding $400. The transaction is expected to close in the coming months.