Uber has signed a deal to acquire U.K.-based vehicle booking and dispatch systems company Autocab for an undisclosed sum.
In addition to technology, Autocab provides taxi and private hire operators with access to the iGo marketplace, enabling them to pick up trips.
The plan is for Autocab to remain independent with its own board but for its technology to be extended internationally beyond its existing 20 markets.
Critically, the iGo marketplace is also to be extended so Uber drivers can pick up customers from outside the Uber platform.
The news comes as Uber announced its second quarter 2020 earnings, with a 35% decline to $10 billion in gross bookings while mobility gross bookings were down 73% for the quarter.
In stark contrast to the collapse of the ride-hailing business, gross bookings for the deliveries division increased 113% year-on-year.
Similarly with revenue, Uber reported a year-over-year slump for mobility revenue by 67%, but this was offset by delivery revenue which increased 103% year-on-year.
Overall, Uber reported a net loss of $1.8 billion, which it says includes $131 million in stock-based compensation and $382 million in restructuring costs.
EBITDA for the mobility segment was $50 million, a decline of $456 million year-over-year. Overall EBITDA was reported as a negative $837 million, down $181 million year-on-year.
The acquisition of Autocab comes on top of a string of purchases recently including delivery specialist Postmates for $2.65 billion in stock in early July.
Uber also acquired Routematch, a software technology specialist to public transportation systems in North America and Australia, similarly in July.
Ubers says it is expanding partnerships with public transport agencies, pointing to a deal with Marin County in California, as well as a partnership to be the exclusive ride-hailing partner for France’s national railway operator, SNCF.
Commenting on the results, CEO Dara Khosrowshahi says the delivery business is now as big as the rides business was when he took over three years ago.
In remarks accompanying the results, he notes the “magic of having anything show up” quickly in the same way a car shows up.
On the company's Q2 earnings results, chief financial officer Nelson Chai says the company remains confident of achieving adjusted EBITDA profitability before the end of 2021.