Online Restaurant Guide Zomato announced the acquisition of MaplePOS, a cloud based point of sale product for restaurants developed by a group of techies from Delhi. Gurgaon based Zomato has already renamed the MaplePOS product to ‘Zomato Base’. Amount of Deal is not disclosed.
MaplePOS offers restaurants features such as menu and inventory management, and has built in payment solution to accept debit and credit card payments. It counts other Indian Players such as Posist and FusionResto. It offers software to manage menus, inventory, recipes, electronic receipts and a stealth feature which is not disclosed. This is the first product acquisition for Zomato.
Since July 2014, Zomato has acquired seven restaurant search and listing companies in various parts of the world. In February, this year, Zomato launched its Uber like Cashless product in Dubai. The company new buyout is a step forward towards taking an advantage over rival Foodpanda which is also aggressively expanding in its space even as Zomato gears up for launch of food service in India, this month.
The online food services market is valued at over $14 Billion in India and $371 Billion globally and increasing technology is becoming an integral part of servicing the palette. Zomato will work on integrating the POS product service with the consumer product over the next few months, after the integration, Zomato will start offering Zomato base to restaurant business across the world this fall.