04:53 AM EDT, 05/14/2024 (MT Newswires) -- Uber Technologies ( UBER ) said late Monday it has agreed to acquire Foodpanda Taiwan, a meal delivery business, from Delivery Hero for $950 million in cash.

Uber ( UBER ) also agreed to purchase $300 million of newly issued shares of Delivery Hero.

The acquisition, expected to close in the first half of 2025, is subject to regulatory approval and customary conditions. After closing, Foodpanda Taiwan will transition to Uber Eats.

Uber ( UBER ) described the deal as among the largest non-semiconductor international acquisitions in Taiwan.

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