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Times Internet’s restaurant-tech platform Dineout to be acquired by Swiggy

Swiggy, an Indian meal delivery service, has agreed to buy Dineout, a restaurant technology platform, from Times Internet.

While the firms did not disclose the deal’s financial terms, sources claim it is worth US $200 million. Swiggy’s entrance into the dine-out area, which rival Zomato offers, will be aided by the purchase.

Dineout was purchased for $10 million by Times Internet, the digital branch of media giant Times Group, in 2014. After the acquisition, Dineout will continue to function as a standalone platform, with founders Ankit Mehrotra, Nikhil Bakshi, Sahil Jain, and Vivek Kapoor joining Swiggy.

Dineout has over 50,000 restaurant partners in India, spread across 20 cities. Its offerings include reservations for dine-in tables and tickets to live music and comedy acts.

Swiggy plans to expand its “synergies” with Dineout’s products, allowing restaurant partners to reach more consumers and develop their businesses.

 

 

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