Just Eat, the leading global hybrid marketplace for online food delivery, has today announced the acquisition of Practi, a software service that provides independent restaurants and small chains with tablet-based Point of Sale (PoS) and restaurant management systems to help them manage their businesses more efficiently.
This strategic acquisition will further strengthen Just Eat’s partnership with the thousands of restaurant partners on its platform. Whether by deploying new tablets or by incorporating Practi’s software on Just Eat’s Orderpads, Just Eat will provide its restaurant partners with PoS, cash and card payment handling, inventory management, kitchen operation and employee management systems, all within a single software package across multiple devices.
This will transform Just Eat’s offering to restaurants, providing the PoS through which all their offline and online transactions are handled, the software through which they will manage their business and facilitating deep integration with their online business and customer promotions. Just Eat’s technology will be embedded at the heart of its partners’ offline operations, building on the support it has historically provided for their online operations, which will help drive increased orders and efficiency for restaurants and even better service to Just Eat’s customers.
Practi builds on the acquisition of Flyt, which connects Just Eat’s platform to restaurants chains’ existing PoS systems. Just Eat’s Practi based offering will target restaurants that do not already have PoS systems, offering them benefits of PoS and restaurant management software. Combined, the two acquisitions will allow Just Eat to cover the full spectrum of restaurant partner needs.
Practi’s founders, Ohad Folman and Edan Folman, will continue to work at Practi, ensuring their expertise, know-how and entrepreneurial drive remain at the core of the business within the Just Eat group.
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.”
The acquisition cost is an initial £6.7m with further payments dependent on the achievement of certain commercial milestones.