Indian food delivery platform Swiggy has agreed to buy restaurant table booking app Dineout from Times Internet.
Established in 2012 by founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor, Dineout has a network of more than 50,000 restaurant partners.
The deal will allow Swiggy to enter the high-use dining out category.
In February, Swiggy was reportedly in talks with Dineout over the acquisition.
Swiggy CEO Sriharsha Majety said: “Dineout is a well-loved brand that enjoys loyalty from both consumers and restaurants.
“Times Internet and the founding team should be credited for the transformational impact they have brought about in the dining out experience through their products, technology and vast selection of restaurant partners.
“The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category.”
The Dineout founding team will join Swiggy as part of the deal.
In a blog post, Swiggy said that the transaction will enable it to ‘double down on the synergies’ with the services of Dineout.
Dineout will retain its operational independence upon completion of the deal.
Commenting on the deal, Dineout co-founder and CEO Ankit Mehrotra said: “At Dineout, we always wanted to revolutionise the restaurant industry and this acquisition is an accelerating step towards the same goal.
“We strongly feel that with Swiggy’s deep understanding of the ecosystem and our shared passion for a superior consumer and restaurant experience, our joint forces will help provide a holistic platform in this industry.”