German company Food Panda has acquired Eat Oye which happens to be a top online food delivery and restaurant reservation portal in Pakistan. According to Business Recorder, the deal was signed on Tuesday, February 3, 2014 under which the ownership of Eat Oye will shift to Food Panda – Hello Food, a company owned by German giant, Rocket Internet.
Nauman Sikandar (CEO) and Rai Umair (CTO) established a company Food Connection Pakistan which attracted a good amount of funding and got incubation from Arpatech even before starting as EatOye in early 2014. Nauman was a restaurant owner before Eat Oye, a computer science and MBA degree holder while Rai Umair had 14 years of experience in working for a tech industry. They were a perfect duo with the right experience to start an online food platform.
Food Panda is expected to communicate the details of the agreement through an official press release before the end of the week. It is expected that founding members will continue to work with Food Panda under unified management. It is no doubt that Eat-Oye will bring a substantial boost to the German company with its diverse mix of over 1,000 restaurant listings.
Stay tune with TechJuice for more information on the acquisition.