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Grubhub Closes USD 150m Acquisition of Campus Food Ordering Platform Tapingo
Thursday 08 November 2018

8 November 2018 - Chicago, US-based food-ordering and delivery marketplace Grubhub (NYSE: GRUB) has closed the acquisition of California, US-based campus food ordering platform Tapingo, to strengthen presence in the college market, the company said.

In September, Grubhub entered into a definitive agreement to acquire Tapingo for approximately USD 150m, subject to standard closing conditions.

With over 150 college campus partners, Tapingo enables tens of thousands of order-ahead transactions per day for more than half a million active diners at on-campus cafes, restaurants and cashier-less stores.

The combination of Tapingo's network with Grubhub's restaurant marketplace and delivery capabilities will bring greater convenience to students and help campus restaurants capitalise on pickup and delivery orders.

Tapingo's US- and Israel-based teams have built a technology platform custom designed for campus use, with direct integration into college meal plans and point-of-sale systems, ensuring seamless order-taking and accurate, up-to-the-minute transparency on wait times for diners.

The Tapingo platform also streamlines operations and increases in-store efficiency for campus restaurant partners and powers partnerships with Aramark and Sodexo, the providers of food services and facilities management nationwide.

Grubhub is an online and mobile food-ordering and delivery marketplace with the largest and most comprehensive network of restaurant partners, as well as a largest diner base. Grubhub works with more than 85,000 restaurant partners in over 1,600 US cities and London.

Tapingo provides mobile solutions designed to improve the retail process for consumers and merchants. Blending its proprietary ordering technology with operational expertise, Tapingo allows operators to benefit from increased volume and efficiency while better serving customers.

Kirkland and Ellis LLP and Fischer Behar Chen Well Orion and Co served as legal counsel to Grubhub in connection with the acquisition. Hersog, Fox and Neeman and Silicon Legal Strategy served as legal counsel and JMP Securities LLC served as a financial advisor to Tapingo.
Details
Date Published: 08/11/2018
Target: Tapingo
Country: USA
Sector: Hotels/Restaurants/Casinos/Catering
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: Grubhub,  
Buyer Advisor: Kirkland and Ellis , Fischer Behar Chen Well Orion and Co
Comment:
Terms of the deal were not disclosed

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