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Uber, the giant in smart transportation, has acquired Germany's Delivery Hero in a deal worth 12.7 billion euros (about $14.6 billion) at 41 euros per share, according to the German company's statement.

Delivery Hero operates in more than 60 markets and is one of the world's largest food delivery groups.

The German company's shares fell 0.5% on the Frankfurt Stock Exchange after the announcement, trading at 37.9 euros.

Founded in 2011, the German company has expanded beyond its traditional food delivery business into "quick commerce," which involves delivering small packages to customers.

Uber offered 41.5 euros per share for Delivery Hero, valuing the deal at 12.7 billion.

Uber CEO Dara Khosrowshahi said the merger "will expand access to affordable and reliable delivery services to millions more people in some of the world's most dynamic economies, while creating more opportunities for merchants and delivery workers."

Under the deal, Uber will acquire Delivery Hero's operations in 50 markets across Asia, Europe, South America, and the Middle East.

US investment firm SSW Partners will acquire the German group's operations in 14 other markets where Uber and Delivery Hero compete, for 1.4 billion euros.

Delivery Hero's management has recommended shareholders approve the deal, which is expected to close in the second half of 2027.

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