M&A

M&A

Food delivery unicorn Swiggy acquires restaurant tech app Dineout

Economic Times  

Online food-delivery app Swiggy has tied up with Times Internet to acquire restaurant tech and dining out platform Dineout. Dineout will continue to operate as an independent app after the acquisition. The largely all-stock deal is worth about USD 120 million, or about INR 930 crore. Swiggy is expected to double down on Dineout's offerings, including table reservations and events while Dineout's restaurant partners will get access to Swiggy's customer base, allowing them to increase their reach. Dineout allows customers to make table reservations across its network of 50,000 restaurants in 20 cities. It also provides restaurant solutions with regards to contactless dining besides discounts and privileges to customers across select restaurants. In 2014, it was acquired by Times Internet, the digital media arm of Bennett, Coleman and Company Ltd (Times Group).