+1-888-308-5802     
News Contact Us

Just Eat acquires hospitality platform Flyt for around €25 million

Author : Paroma Bhattacharya | Published Date : 2019-01-23 

London’s online food ordering firm Just Eat plc has recently acquired Flyt Limited, a startup that offers software for restaurants and restaurant suppliers. As per trusted sources, Just Eat acquired Flyt’s shares for around €25 million paid in cash from existing investors which included Entree Capital and Time Out.

Founded in 2013, Flyt helps restaurants and their suppliers to integrate their point-of-sale (POS) systems with third-party services. The company’s platform can serve multiple functions, like reducing driver wait times for take away, reducing the need for manual restaurant processes, and eliminating human errors while taking orders.

For the record, Flyt already works with over 3,000 branded restaurants, including some of the world’s largest brands such as Tim Hortons, KFC, Mitchells and Butlers, Nando’s and Pizza Express. Just Eat was a customer and a minority shareholder of Flyt, with an 8% stake in 2016.

Sources suggest that the acquisition will allow Just Eat to further develop Flyt’s technology and offer its services to its global restaurant partners.

According to TechCrunch, Peter Duffy, interim CEO, Just Eat, said that adding Flyt into the group will accelerate the take-up of their services around the world and allow the Flyt team to innovate with new and exciting technology solutions for the industry. He said that the company has admired Flyt for some time and are impressed by its technology that integrates Just Eat with its restaurant partners to provide world-class food delivery services.

Tom Weaver, CEO and Co-Founder, Flyt, was quoted saying that the company has worked closely with Just Eat since it became an investor and customer in 2016. He said that the company plays a key role in accelerating the adoption of restaurant technology, and the acquisition enables it to further offer its platform to a wider restaurant audience, point of sale providers and technology partners.

Reliable sources claim that Flyt will continue to function as a standalone brand and platform. Its founders, Chris Evans and Tom Weaver, will remain in charge of the business, which reportedly works with over 100,000 restaurant partners to serve over 25 million customers globally.

About Author

Paroma Bhattacharya

Paroma Bhattacharya

Paroma Bhattacharya, having completed her post-graduation in Journalism and Mass Communication, started her career in writing with resourceful and informative content development across diverse fields. Having dealt in myriad topics ranging from business to real estate, she now pens down articles for fractovia.org and other portals. She can be contacted at- [email protected] | https://twitter.com/paromab1

Related News

Aphria officially rejects the undervalued takeover bid by Green Growth

Published Date: 2019-02-07         Author: Paroma Bhattacharya

Green Growth apparently failed to consider the promising growth opportunities presented by Aphria which led to the rejection of the bid. Aphria Inc., the Canadian cannabis company, has recently been reported to officially reject the hostile takeover bid presented by Green Growth Brands Inc., a US... Read More

Sysco Corporation to acquire Central Illinois based Waugh Foods

Published Date: 2019-01-30         Author: Paroma Bhattacharya

The acquisition is expected to complement Sysco’s services and strengthen its position in Illinois Sysco Corporation, the food marketing and distribution company recently announced that it has inked a definitive agreement to acquire the Illinois based food distributor, Waugh Foods. ... Read More

CVS Pharmacy to launch Beauty Mark to promote realistic beauty ideals

Published Date: 2019-01-26         Author: Paroma Bhattacharya

The company expects to attract more millennial shoppers with a more realistic representation of what its beauty products can achieve. CVS Pharmacy, the American healthcare and retail company recently announced that it will be labeling the photos of models appearing in the beauty aisles of the com... Read More

© 2019 Fractovia. All Rights Reserved