Uber Technologies said on Tuesday it would buy US catering platform ezCater in an all-cash deal for 2.3 billion dollars, its latest move to strengthen delivery, the company's fastest-growing business segment, Reuters reports.

ezCater is led by Bangladeshi-American CEO Nihad Rahman, who joined as Chief Financial Officer in 2022 after serving as Managing Director at JPMorganChase and in leadership roles at General Electric, Exit Stack reports.

Rahman became interim CEO in January 2025 and was appointed CEO in May 2025.

Founded in 2007, ezCater lets companies order food from caterers for corporate events, meetings and workplace meals. It generated more than 2.5 billion dollars in gross bookings over the past 12 months, Uber said.

The deal comes months after Uber agreed in July to buy German firm Delivery Hero in a 14.8 billion dollar transaction aimed at creating the largest food delivery group outside China.

“Catering is a big business, and can be a huge revenue stream for restaurants,” said Dara Khosrowshahi, CEO of Uber. “Nihad and his incredible team have built an amazing platform. With Uber’s reach, we can bring that experience to millions more customers and help restaurants win more of these valuable orders.”

“We're thrilled to be joining forces with Uber. Our team is proud of what we've built — the leading platform for workplace catering, and a major growth channel for our restaurant partners,” said Nihad Rahman, CEO of ezCater.

“We're energised to bring our catering and B2B expertise to Uber's global ecosystem of customers, merchants, and couriers.”

Uber plans to combine ezCater's catering and B2B operations with Uber Eats and Uber for Business.

The deal would combine ezCater's catering business with Uber Eats' restaurant network and Uber for Business' corporate customer base, the company said.

Uber Eats has a wider global reach, but DoorDash holds the majority of the US food delivery market, according to analysts, and the ezCater deal is expected to help Uber narrow that gap.

Uber said ezCater's average order values exceed 400 dollars and the deal is expected to boost margins.

The acquisition adds a new line of business built on high-value group orders paid for by companies, expanding Uber's business-focused segment, whose gross bookings grew more than 40% in the second quarter, Rosenblatt analyst Scott Devitt said.

"Importantly, bringing workplace buyers into the ecosystem supports the membership flywheel," Devitt said.

The ride-hailing and delivery company's shares have fallen 15% this year as investors weigh how well it can compete once robotaxis begin to reshape the ride-hailing market, Reuters reports.

Uber's delivery segment accounted for about 37% of total revenue in the second quarter and has been its biggest growth driver in the recent past.

The deal is subject to regulatory approval and is expected to close in the coming months.