SoftBank and its co-investors have successfully acquired 18 percent of Uber, a major victory for Uber\u2019s new CEO and one that will give billions of dollars in cash to some of the company\u2019s earliest investors and employees.\r\nSoftBank is slated to own 15 percent of Uber\u2019s shares, according to a person with knowledge of the transaction, and SoftBank\u2019s co-investors will own just under 3 percent of the company.\r\nThe success of the tender offer\u00a0will have far-reaching consequences:\r\n\r\n\r\n \tUber\u2019s board of directors, which had devolved into a power struggle between Uber\u2019s former CEO, Travis Kalanick, and its largest investor, Benchmark, will now likely be calmer. Benchmark is expected to drop its lawsuit against him. And Uber will enact governance reforms that disempower the two warring factions and increase the size of the board to a massive 17 people, two of whom will come from SoftBank.\r\n \tA lot of people are now very rich. While we have yet to learn the full list of investors who have cashed out for the price of about $33 a share, Thursday\u2019s result is the reward for years of drama at a company that nevertheless saw astronomical growth since its founding in 2009. Uber\u2019s earliest employees who sold are now millionaires, and venture firms could see billions of dollars flow into their bank accounts.\r\n \tUber now has a powerful strategic partner in SoftBank, the Japanese telecom giant that is investing hundreds of billions of dollars in technology. SoftBank, which is heavily invested in other ride-hailing companies around the globe, could help Uber strike more partnership deals, especially in Asia. SoftBank will occupy two seats on the company\u2019s board and will now be an extremely influential player in decisions at Uber.\r\n \tThe deal nevertheless sharply discounts Uber\u2019s value, which last year was estimated at almost $70 billion. SoftBank and its co-investors are acquiring some of the company at a valuation of $48 billion. While a 30 percent discount is not unusual in a transaction like this, it does reflect some concerns about how the company can move forward after a year of upheavel that has not totally abated.\r\n\r\n\u201cWe look forward to working with the purchasers to close the overall transaction, which we expect to support our technology investments, fuel our growth, and strengthen our corporate governance,\u201d said an Uber spokesperson.\r\nSoftBank and other parties will also give Uber $1.25 billion in new investment as part of the transaction. The investment is expected to be closed in January.\r\n\u201cWe have tremendous confidence in Uber\u2019s leadership and employees and are excited to support Uber as it continues to reinvent how people and goods are transported around the world,\u201d said SoftBank\u2019s Rajeev Misra.\r\nThe deal\u2019s success was\u00a0first reported by the Wall Street Journal.\r\nKnown sellers include\u00a0Benchmark and Menlo Ventures. Several other major Uber shareholders, though, have been pressed to sell some of their position in the company by Uber\u2019s new CEO Dara Khosrowshahi.