Just Eat has purchased the remaining outstanding share capital of restaurant software platform Flyt for £22m ($29.81m) from existing investors, including Time Out and Entree Capital.
Established in 2013, Flyt integrates point of sale (PoS) systems of restaurant groups and restaurant suppliers with third-party services to enhance customer experience and operational efficiency.
The company currently serves a network of 3,000 quick service and branded restaurants such as KFC, Tim Hortons, Mitchells and Butlers, Pizza Express and Nando’s.
Just Eat interim CEO Peter Duffy said: “Bringing Flyt into our Group will accelerate the take-up of these services around the world and allow the Flyt team to innovate with new and exciting technology solutions for the industry.
“We’ve admired Flyt for some time and are hugely impressed by their technology, integration between Just Eat and our restaurant partners is a critical component to providing world-class food delivery services.”
The transaction allows Just Eat to accelerate the development of Flyt’s technology, as well as offer Flyt’s services to its restaurant partners globally.
It will also assist the delivery firm to establish work with a range of quick service restaurants and branded retail groups in the UK and globally.
In addition, Flyt will continue to operate as a standalone platform and brand, with its founders Tom Weaver and Chris Evans leading the business.
They will also join Just Eat Group to assist more than 100,000 restaurant partners in serving 25 million customers globally.