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Swiggy to buy out Dineout

The Bangalore-based company added that Dineout will continue to operate as an independent app after the acquisition
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Our Special Correspondent   |   Mumbai   |   Published 14.05.22, 01:29 AM

Swiggy, the food delivery major, on Friday announced that it has entered into a definitive agreement with Times Internet to acquire Dineout, a dining and restaurant tech platform, for an undisclosed sum.

The acquisition will see Swiggy venturing into the dining out (non-delivery) space, thus taking on rival Zomato which has a good presence in this segment. The Bangalore-based company added that Dineout will continue to operate as an independent app after the acquisition.

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According to Swiggy, the acquisition is designed to capitalise on Dineout’s unique assets and leading position in the dining out space and following the purchase, it will ramp up the synergies with Dineout’s offerings, including dining out table reservations and events.

Swiggy added that restaurant partners will also benefit over a period of time as they will be able to reach more customers and grow their business.

“Dineout is a well-loved brand that enjoys loyalty from both consumers and restaurants... The acquisition will allow Swiggy to explore synergies and offer new experiences in a high-use category,’’ said Sriharsha Majety, CEO of Swiggy.

“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 our joint forces will help provide a holistic platform in this industry,” Ankit Mehrotra, Co-founder & CEO said.



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