Online food delivery and restaurant discovery platform Zomato has acquired the Indian operations of Uber Eats, the food delivery business run by Uber, for around $350 million (Rs 2,485 crore), two people in the know of the deal said.The all-stock transaction will give the US-based ride-hailing company about 10% shareholding in Gurgaon-based Zomato, they told ET. Uber Eats will cease to exist as a separate brand locally and users on its platform will be redirected to Zomato’s app, said ..The all-stock transaction will give the US-based ride-hailing company about 10% shareholding in Gurgaon-based Zomato, they told ET. Uber Eats will cease to exist as a separate brand locally and users on its platform will be redirected to Zomato’s app, said one of the people privy to the details. Zomato will not absorb Uber Eats’ team in India. This means around 100 executives will either be reallocated to Uber’s other verticals here or laid off.With the acquisition going through, the combined entity of Zomato and Uber Eats India is expected to corner more than a 50-55% market in terms of the number and value of orders, pulling it ahead of Swiggy.“The deal is signed and customers are going to be directed away from Uber Eats to Zomato,” said one of the people familiar with the matter. Zomato, he said, expects to transition 90% of Uber Eats users onto its platform.