Just Eat, a UK-based global marketplace for online food delivery provides easy and convenient access to a wide variety of restaurants. It focuses on the energy and quality of local activities as these are critical for its success.
Acquisition of Practi
In a recent development, Just Eat has acquired Practi, a software service providing small chains and independent restaurants with tablet-based PoS (Point of Sale) and restaurant management systems. The acquisition was finalised with an initial payment of £6.7 million (nearly €7.7 million). Further payments depend on specific commercial milestones achieved by the company.
Peter Duffy, Interim Chief Executive Officer, Just Eat said: “We are very excited about the acquisition of Practi. We found that many of our restaurant partners were calling for this type of software to help manage their businesses. It will play a vital role in supporting small and medium-sized restaurants as it transforms how they run their restaurants and deliver the best service for customers through Just Eat.”
This acquisition has been carried out with the hope that it will strengthen Just Eat’s hold on restaurant partners available on its platform. Practi was founded in 2012 in the UK by Ohad Folman and Edan Folman. Post acquisition, both the founders will continue to work with the company.
Everything will be available in a single package
It will either be implemented by deploying tablets with new restaurants or by incorporating the software of Practi on the Orderpads of Just Eats. Via the Orderpads, Just Eat will be able to lock in restaurants as it incorporates PoS, card and cash payment handling, kitchen operation, inventory management and employee management systems within a single software package accessible via multiple devices.
Previous acquisitions by Just Eat
Prior to Practi, Just Eat founded in 2000 by Jesper Buch acquired Flyt in January 2019. Flyt is a restaurant software platform and the deal was finalised for €25 million. Before this acquisition, Just Eat owned just 8% stake in Flyt.
While Flyt connects Just Eat’s platform to the existing PoS systems of restaurant chains, the Practi platform will be used to target restaurants that do not have PoS and restaurant management systems.
Talking about the other acquisitions by Just Eat, it has taken over Flypay, SkipTheDishes, HungryHouse, Nutrifix, MyBaker, iFood, TouchBistro and more.
Focused on improvements
In 2018, Just Eat grew significantly and developed a world-class marketplace for partners and customers by offering best-in-class delivery services. Now, this year, the company is focused on leveraging improvements to grow in terms of orders and revenue. And, the acquisition of Practi and the integration of its PoS and restaurant management software will help in achieving growth.
Stay tuned to Silicon Canals for more updates in the tech startup world.