Delivery Hero, a local delivery platform, agreed to acquire Latin America operations of Glovo, an on-demand delivery start-up, for $272m. $60m of the investment will be subject to performance-based earn-out. “Latin America is a region with exceptional growth potential for online delivery. Acquiring Glovo’s local operations gives us the opportunity to double down on our efforts to drive innovation, continuously improve customer experience and support local vendors in the region. We have been working closely with Glovo for many years, and are proud to incorporate their Latin American services into our global network,” Niklas Östberg, Delivery Hero CEO and Co-Founder.