German freight startup Sennder said on Wednesday it has acquired Uber’s European freight business in an all-stock transaction.

Uber will acquire a minority stake in Sennder as part of the deal.

“The two companies have joined forces to further revolutionize the digital freight industry across Europe, the US and Canada,” said Sennder.

The deal is Sennder’s second transaction this year, having merged with French counterpart Everoad in June, and it follows a recently established joint venture with Poste Italiane, Italy’s largest logistics operator.

Uber Freight’s European General Manager Tom Christenson will join Sennder as Chief Operating Officer and Daniel Warner, currently Head of Shipper Operations, will join as Senior Vice President Commercial.

The Amsterdam based Uber Freight team will join Sennder once the transaction has closed, and Sennder will establish a new office in Amsterdam.

Since its foundation in 2015, Berlin-based Sennder has raised over €120 million from investors including Accel, Lakestar, HV Ventures, Project A and Scania.

Following the closing of the transaction, Sennder will have offices in seven countries, with a team of over 500 people moving 50,000 loads across Europe a month.

Sennder CEO and Co-Founder David Nothacker said: “We are immensely proud to have created the leading digital road freight forwarder in Europe, moving more than 50,000 loads every month across 31 countries.

“This acquisition strengthens our position as Europe’s number one digital logistics provider.

“We also look forward to working with Uber Freight to bring further value to both companies’ customers.”

Lior Ron, Head of Uber Freight, said: “We are proud of the incredible growth and success our Uber Freight team in Europe was able to achieve.

“This collaboration with sennder allows us to further extend our reach in Europe while doubling down on our Uber Freight business in North America, and to jointly push the digital freight industry forward.”