Uber, a ride-hailing company, said Wednesday it will buy a new startup to help it expand its service.
The deal, which was first reported by Recode, will see the company buy out its existing technology and hire an “innovative leader” to head up its next venture.
The new company, called Transporter, will work closely with Uber, said a statement from the company.
The company will be focused on expanding the use of autonomous vehicles across the world and the use and deployment of self-driving vehicles, the statement said.
The transaction is valued at $11 billion.