US meal delivery firm DoorDash will buy British rival Deliveroo for £2.9 billion ($3.9 billion), the companies said Tuesday, as they look to expand their reach and take on competition.

DoorDash has its shares publicly listed on the US’s Nasdaq index and has a market capitalisation of about 93 billion US dollars (£70 billion) – compared with Deliveroo’s £2.2 billion.

DoorDash said it has agreed to buy its U.K. rival Deliveroo for about £2.9 billion (around $3.87 billion) as the U.S. food delivery company seeks to expand into new markets.

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US meal delivery firm DoorDash will buy British rival Deliveroo for £2.9 billion ($3.9 billion), the companies said Tuesday, as they look to expand their reach and take on competition.