JustEat, the well-known online home delivery services provider, has acquired the remaining outstanding share capital of Flyt Limited, for £22 million, from a number of existing investors including Time Out and Entree Capital.
Flyt is a leading software platform that helps restaurant groups and restaurant suppliers integrate their point of sale (POS) systems with third party services. Integrating these services improves the restaurant customer’s experience as well as their own operational efficiency. Flyt’s technology platform is designed to eliminate the need for manual restaurant processes, reduce driver waiting times in restaurants and eliminate human error in order processing.
Although it is now part of the JustEast group, Flyt will continue to operate independently and its founders, Tom Weaver and Chris Evans, will continue to head up the business. With JustEat’s backing it is expected that Flyt will be better able to further develop its technology and work with a wider range of restaurants on a more global basis.
Peter Duffy, Interim CEO of Just Eat, commented: “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.”