Transplace

Transplace is a technology platform developer for logistics. Among other things, the company develops technologies for unmanned vehicles, as well as comprehensive outsourcing services in the field of logistics.

History

2021: Uber bought Transplace for $2.25 billion

In mid-July 2021, Uber announced the acquisition of Transplace for about $2.25 billion from the investment group TPG Capital. The deal involves the transfer of Uber shares in the amount of $750 million, and the remaining amount will be paid from its own taxi ordering service.

According to a press release, the acquisition of Transplace marks the expansion of Uber Freight's logistics business, as the company seeks to gain market share in existing markets and expand its operations in Mexico. Uber Freight also sees the acquisition as a means to accelerate the company's path to profitability and help the segment break even at an adjusted EBITDA by the end of 2022.

Uber acquired Transplace for $2.25 billion

As a result of the merger, one of the largest managed transport and logistics networks will become part of the Uber Freight platform, which connects truck drivers with shippers in need of cargo delivery. Uber Freight brokerage services will continue to operate independently of Transplace services.

This is a significant step forward not only for Uber Freight, but also for the entire ecosystem in the field of logistics. This is an opportunity to combine the complementary best-in-class technology solutions and operational excellence of the two leading companies to create the industry's first platform for shippers and carriers, which will change all shippers' supply chains, ensuring operational sustainability and reducing costs at that very moment, when it matters most to the market as a whole, Uber Freight CEO Lior Ron said in a statement.

{{quote 'Overall, we expect a significant reduction in empty shipper and carrier mileage for the benefit of all highway and road infrastructure as well as the environment, "said Transferace CEO Frank^[1]

Notes