Uber Technologies Inc. (NYSE: UBER) is acquiring Drizly, an online platform that uses independent contractors to deliver alcoholic beverages to consumers. The deal requires Uber to pay approximately $1.1 billion in stock and cash.

Uber CEO Dara Khosrowshahi said Drizly is profitably growing gross bookings more than 300% per year.

“By bringing Drizly into the Uber family, we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead,” Khosrowshahi said.

Drizly will become a wholly owned subsidiary of Uber following the deal. It will eventually be integrated with the Uber Eats app while also maintaining a separate Drizly app.

Uber anticipates that 90% of the consideration to be paid to Drizly shareholders will be in Uber common stock.

The deal is subject to regulatory approval and other customary closing conditions. It is expected to close within the first half of this year.