Uber to Buy TPG Freight Firm Transplace for $2.25 Billion (1)

Uber Technologies Inc. agreed to acquire Transplace, a logistics company owned by TPG Capital, for $2.25 billion in the ride-sharing company’s biggest bet on the trucking business.

The deal is designed to help Uber’s freight arm break even more quickly, the San Francisco-based company said in a statement Thursday. Uber Freight will turn its first adjusted earnings before interest, taxes and other expenses by the end of next year, the parent company said. The unit generated $995 million in revenue last year.

TPG will receive as much as $750 million in Uber stock and the rest in cash. The ...