German food delivery group Delivery Hero said Thursday it has agreed to be taken over by US ride-hailing giant Uber in a 12.7-billion-euro deal.
Founded in 2011, the German firm now operates in over 60 markets and is one of the world's biggest food delivery groups.
It has also expanded beyond its traditional food business to "quick commerce", delivering small packages to customers.
Uber is offering 41.50 euros per share for Delivery Hero, valuing the deal at 12.7 billion euros.
Delivery Hero's shares were down 0.5 percent in Frankfurt after the announcement, trading at 37.9 euros.
