New Delhi, Oct. 29 -- US-based food delivery company DoorDash on Thursday announced an agreement to acquire grocery delivery platform Instacart in a deal valued at approximately USD 17 billion, as consolidation gathers pace in the global food and grocery delivery market.

According to a joint statement issued by the two companies, DoorDash will acquire Instacart for USD 65 per share, representing a 26 per cent premium to Instacart's closing share price on October 22, the last trading day before reports of a possible transaction emerged.

"DoorDash, Inc. (NASDAQ: DASH) and Maplebear Inc. (d.b.a. Instacart, NASDAQ: CART) today announced a definitive agreement under which DoorDash will acquire Instacart for a total value of $65.00 for each I...