(RTTNews) - Uber Technologies, Inc. (UBER), on Monday announced an agreement to acquire a Chicago-based digital parking marketplace, SpotHero, Inc., bringing parking reservations natively onto the Uber app.
The financial terms of the transaction were not disclosed.
The deal is expected to close in the first half of 2026.
The company plans to integrate SpotHero's technology to offer in-app parking reservations, initially focused on commuters, events, venues, and airports.
Uber One members are also expected to receive parking-related benefits over time.
The company said that the parking operators on the SpotHero platform will gain exposure to Uber's consumer base, along with access to its vehicle charging and fleet partner network.
SpotHero was founded in 2011 and operates a parking reservation marketplace with access to more than 13,000 garages, lots, and valet facilities across over 400 cities in the U.S. and Canada.
UBER closed the regular trading session on February 24, 2026, at $70.72, down $3.14 or 4.25%. Later, in overnight trading, the share price rose to $71.01, gaining $0.29 or 0.41%, as of 12:01 AM EST.
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