Uber agrees to buy corporate-catering platform ezCater for $2.3 billion.

Uber agreed to acquire ezCater for $2.3 billion in cash, extending its delivery business into corporate catering. ezCater generated about $2.5 billion in gross bookings over the latest 12 months, and its average order exceeds $400, according to Reuters.

The transaction is expected to close in the coming months if regulators approve it. Delivery produced 37% of Uber's second-quarter revenue, and corporate orders could raise average transaction size while broadening demand beyond individual restaurant meals.