Just Eat snaffles up Practi, POS system for independent restaurants
Just Eat has splashed £6.7 million to acquire Practi, the London-based startup providing small chains and standalone restaurants with iPad-based point of sale (POS) systems.
Facing growing competition in the food delivery market, Just Eat have made the move to widen their net and "lock in" restaurants. The initial £6.7 million outlay comes with potential further payments promised as long as Practi can hit certain performance indicators.
Practi, whose offices are in Covent Garden, creates digital solutions for a "wholistic retail management system". It's aimed at businesses small enough to not currently have a POS or restaurant management system - providing them with an iPad-based system covering inventory, payment processing, employee management, CRM, reporting and more.
Through the significant investment - which will see Practi's founders staying on to manage it - Just Eat will be able to approach the smallest food operators and sign them up, at the same time as providing them with everything they need to streamline their process. With Just Eat providing everything from kitchen operation to loyalty products, the restaurants will be mostly reliant on staying with the takeaway marketplace.
Peter Duffy, Just Eat’s interim CEO 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.”
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