Uber is acquiring SpotHero, a parking reservation app, as part of its strategy to expand beyond ride-hailing into parking solutions. The ride-hailing giant plans to integrate SpotHero's technology to help commuters find and reserve parking spaces at events, venues, and airports.

This acquisition marks Uber's latest move to diversify its transportation offerings and create a more comprehensive mobility platform. By adding parking services, Uber aims to solve the common pain point of finding convenient parking, particularly in urban areas where parking can be scarce and expensive.

The deal underscores Uber's ambition to become a one-stop shop for transportation needs, from rides to parking. While financial terms weren't disclosed, the acquisition positions Uber to compete more directly with other mobility companies expanding into adjacent services.