Just Eat gobbles up software firm Practi
Just Eat, the food delivery marketplace that retains a leadership position in the UK, has acquired software service firm Practi. Practi provides independent restaurants and small chains with tablet-based point of sale (POS) management systems to let them process orders efficiently.
The move will let Just Eat integrate its own out-of-house management systems with Practi’s in-house software, offering partner restaurants a more comprehensive service. That, the logic goes, should result in more loyal partners, as more food order and delivery services enter the market.
Just Eat’s share price has risen by 28% so far this year
Source: Yahoo Finance
Just Eat’s interim CEO, Peter Duffy, said: “We are very excited about the acquisition of Practi. We found that many of our restaurant partners were calling for this type of software to help manage their businesses. It will play a vital role in supporting small and medium sized restaurants as it transforms how they run their restaurants and deliver the best service for customers through Just Eat.”
Many of Just Eat’s partners already have a POS system in operation. Just Eat’s recent acquisition of Flyt, which connects Just Eat’s platform to those systems, helps to solidify the connection between these companies. But the Practi purchase will allow Just Eat to offer a similar level of service to restaurants which do not currently have POS systems.
At the company’s last earnings call a month ago, Duffy spoke confidently about Just Eat’s position in the market, saying: “So what's so special about Just Eat then? Well, I see the industry coming at this in two ways. You've got delivery organizations that need to move into marketplace, you've got marketplace organizations that need to add delivery. And Just Eat has advantage here. We are the organization with an unrivaled marketplace foundation. The company who has a number one position in every market where we operate. But who needs to add delivery to varying levels in a number of our markets.”
Dominion holds Just Eat in its Global Trends Manged Fund
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