Just Eat announces Flyt deal

Just Eat has acquired startup Flyt for £22 million. It was already an investor but this deal sees it become a majority owner. Existing investors, including Time Out and Entree Capital, have exited.

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Flyt has developed a software platform that helps restaurant groups and restaurant suppliers to integrate their PoS systems with third party services. It will continue to operate as a standalone platform and brand. Its founders, Tom Weaver and Chris Evans, will remain leading the business and become a part of the wider Just Eat Group.

Peter Duffy, Interim CEO at Just Eat, comments: “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. We’ve admired them for some time and are hugely impressed by their technology - integration between Just Eat and our restaurant partners is a critical component to providing world class food delivery services.”