After weeks of speculation, Uber has officially agreed to acquire Delivery Hero, a purchase that will take the transportation and delivery giant’s status to new heights and into nearly 100 markets across Europe, the Middle East, Latin America and Asia.

Germany-based Delivery Hero also reached a separate deal to sell its business in 14 markets, where Uber Eats already operates, to New York-based investment firm SSW Partners for $1.6 billion.

The acquisition of shares worth $14.8 billion is not yet closed. The purchase will make Uber’s delivery platform one of the largest in the world, at least the largest outside China, and will likely face regulatory scrutiny. And Uber, which was already Delivery Hero’s largest shareholder, has set a minimum acceptance threshold of 50%, plus one share of Delivery Hero’s outstanding capital stock. Prosus, another major shareholder, also agreed to sell its 17% stake, according to the announcement.

If the deal closes, Uber will essentially double its footprint, putting it in a better position to compete with DoorDash and Just Eat.

“Together, we will nearly double the number of markets in which we offer mobility and delivery services, scaling a proven platform that we believe will create significant long-term value for our customers and shareholders,” Uber CEO Dara Khosrowshahi said in a statement.