Zebra’s stock rose more than 40% on Thursday following the news that Tyler Technologies Inc., a Delaware corporation, and Uber Technologies Inc. have agreed to merge.
The deal, first reported by the Wall Street Journal, would give Tyler a controlling stake in Uber, which has grown to more than 2.5 million riders in the U.S. and has been valued at $30 billion.
The transaction also could increase Tyler’s stock value, the Journal reported, citing people familiar with the matter.
Uber is currently in the midst of a major overhaul and is under fire from its competitors for the way it treats drivers, a practice that has raised questions about whether it should be required to follow the same standards of conduct as its competitors.
In December, Uber agreed to a $16 billion deal with Lyft to buy its parent company in exchange for controlling interest in the ride-hailing service.
The deal was approved by a federal judge.