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Tuesday, May 17, 2022

Uber Inc. [NYSE: UBER] Announces Acquisition Of Software Company Routematch

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Uber Technologies Inc. [NYSE: UBER] announced Thursday that it has bought software company, Routematch. Uber Inc aimed to expand its business with public transportation agencies.

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This acquisition of Uber Inc and Routematch strived to support cities in providing more accessible public transportation. After this acquisition, Uber will be able to expand its transit agency customer base by combining the technologies of both the companies.

Shares of Uber Inc had tumbled down 2.38% at $32.03 during the trading of Thursday. It has a day low and high range of $31.55-$32.32, respectively. Uber has moved up 133.63% from its 52-weeks low and moved down -29.80% from its 52-weeks high.

In the past 52-weeks of trading, it has fluctuated between the low of $13.71 and a high of $45.63. If we turn our focus on profitability, it has Return on Assets (ROA) of -33.30%, Return on Investment (ROI) of -40.40%, and Return on Equity (ROE) of -73.80%.

This company has a Gross Margin of 33.60%, a Profit Margin of -71.50%, and an Operating Margin of -69.20%. It has a total market capitalization of 56.91 billion. If we look at the liquidity of Uber, its current ratio and quick ratio is 1.70.

Routematch is best known for providing technology to 550 transit agencies in Australia and North America. It has a total of 175 employees and looking forward to working with Uber. Both companies has not disclosed the financial details of the deal yet.

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