Dutch technology investment firm Prosus has officially launched its €4.1 billion (£3.4 billion) takeover bid for Just Eat Takeaway.com, a strategic move aimed at creating one of Europe’s most influential technology powerhouses. This long-anticipated deal marks a significant milestone in the European technology and online food delivery sectors, signaling Prosus’s intent to deepen its presence in high-growth, consumer-focused digital businesses.

A Strategic Acquisition to Build a European Tech Champion

Prosus, which is majority-owned by South African media and internet conglomerate Naspers, has agreed to purchase Just Eat Takeaway.com shares at €20.30 (£17.07) per share, valuing the entire transaction at €4.1 billion. This acquisition is not only one of the largest in the European tech space in recent years but also one that brings together two formidable players in the food delivery market.

By joining forces with Just Eat Takeaway, Prosus aims to create a scaled platform that can effectively compete with global players such as Uber Eats, DoorDash, and Delivery Hero. The deal represents Prosus’s commitment to investing in long-term digital growth sectors, especially those that involve high-frequency consumer transactions and platform-based business models.

Who is Prosus?

Prosus is a global consumer internet group and one of the largest technology investors in the world. It was spun off from Naspers in 2019 and is headquartered in Amsterdam, Netherlands. The firm has a diversified portfolio of investments in sectors such as food delivery, online classifieds, education technology, fintech, and social platforms.

Some of Prosus’s most notable investments include stakes in Tencent, Delivery Hero, Swiggy, OLX, and PayU. The company’s mission is to invest in and operate tech-driven companies that are shaping the future of the internet economy.

Just Eat Takeaway: A Major Player in Online Food Delivery

Just Eat Takeaway.com, based in Amsterdam, is a leading online food delivery marketplace operating in several European and international markets. The company was formed from the merger of UK-based Just Eat and Dutch firm Takeaway.com in 2020. It offers consumers the ability to order food from local restaurants through its app and website.

Despite facing stiff competition from international players like Uber Eats and Deliveroo, Just Eat Takeaway has established itself as a prominent player in many European markets, leveraging a hybrid business model that combines restaurant logistics with marketplace aggregation.

Deal Highlights: Terms and Rationale

  • Transaction Value: €4.1 billion (£3.4 billion)

  • Offer Price: €20.30 (£17.07) per share

  • Target: Just Eat Takeaway.com

  • Acquirer: Prosus (majority-owned by Naspers)

Prosus believes that this acquisition will allow both entities to streamline operations, leverage combined technology infrastructure, and gain a broader consumer base across multiple regions. Additionally, it creates an opportunity for cost synergies, improved delivery logistics, and enhanced profitability through scale.

Regulatory and Shareholder Approvals

The acquisition is subject to regulatory approvals and a majority shareholder vote. Prosus has stated that it has already secured support from a significant portion of Just Eat Takeaway’s shareholders and expects the transaction to close in the coming months, pending all necessary clearances.

Financial analysts expect that the merger will be looked upon favorably by regulatory bodies, given the complementary nature of the businesses and the increasing need for consolidation in the crowded food delivery market.

Implications for the Food Delivery Industry

This move is widely seen as a signal of consolidation in the global food delivery sector, which has faced profitability challenges due to rising competition, high customer acquisition costs, and growing delivery infrastructure expenses.

With this acquisition, Prosus intends to strengthen its position in the European market and challenge rivals by leveraging the brand power, customer loyalty, and technology platforms of Just Eat Takeaway. The deal also enables Prosus to diversify further from its highly successful investment in Tencent, mitigating reliance on a single investment.

Market Reaction and Strategic Outlook

Following the announcement, market analysts have expressed optimism about the deal. Many believe that Prosus’s deep pockets and experience in scaling digital platforms will revitalize Just Eat Takeaway’s strategy, especially in underperforming regions.

Prosus’s leadership emphasized that the deal represents a “milestone moment” in building a European tech champion, focused on innovation, consumer convenience, and long-term profitability. They also reiterated their confidence in the sustained demand for online food delivery services, especially as consumer behavior continues to shift toward digital ordering.