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Online food delivery platform Swiggy on Friday announced its foray into the dining out category with the acquisition of Dineout. Swiggy has entered into a definitive agreement with Times Internet for the acquisition, the company said in a statement.

Dineout will continue to operate as an independent app, it said.

The deal will "enable Swiggy to cater to every food occasion". The statement further added that the food ordering platform will strengthen its position with Dineout's offering. Swiggy restaurant partners, too, will be benefited with a larger customer base, it said.

"Dineout is a well-loved brand that enjoys loyalty from both consumers and restaurants. Times Internet and the founding team should be credited for the transformational impact they have brought about in the dining out experience through their products, technology and vast selection of restaurant partners," Swiggy CEO Sriharsha Majety said.

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He further acknowledged that the acquisition will "allow Swiggy to explore synergies and offer new experiences in a high-use category.”

Dineout CEO Ankit Mehrotra said, "We strongly feel that with Swiggy’s deep understanding of the ecosystem and our shared passion for a superior consumer and restaurant experience, our joint forces will help provide a holistic platform in this industry." Satyan Gajwani, Vice Chairman of Times Internet, termed 'Swiggy + Dineout' a "powerful combination".

Dineout has a network of 50,000 restaurant partners along with experience and technology that would help support and accelerate Swiggy's growth. As per the agreement, Dineout founders, Ankit Mehrotra, Nikhil Bakshi, Sahil Jain and Vivek Kapoor will join Swiggy post acquisition.

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First Published:May 13, 2022 4:24 PM IST