Uber completes acquisition of human cloud firm Postmates


Uber Technologies Inc. (NYSE: UBER) announced Monday that it completed its acquisition of Postmates Inc., and the companies have begun the process of integrating US operations.

The $2.65 billion, all-stock transaction was first announced in July.

Uber ranks as the largest B2C-focused human cloud platform while Postmates ranks as the 17th-largest, according to SIA.

The consumer-facing Uber Eats and Postmates apps will continue to run separately.

“Uber and Postmates have long been committed to powering delivery services that support local commerce and communities, all the more important during crises like the one we face today,” Uber CEO Dara Khosrowshahi said. “We’re thrilled to bring these two teams together to continue to innovate, bringing ever-better products and services for merchants, delivery people, and consumers across the country.”