Food ordering and delivery firm Swiggy on Thursday said it has acquired Mumbai-based on-demand delivery platform Scootsy.
The all-cash acquisition of Scootsy is for approximately Rs 50 crore, a sources in knowledge of the deal said.
With this acquisition, Swiggy will further strengthen Scootsy's curated restaurant network and help the brand expand to newer cities on the back of its operational excellence and back-end strength, Swiggy said in a statement.
Scootsy will continue to operate as an independent app post the acquisition, it added.
Commenting on the development, Swiggy CEO Sriharsha Majety said, "With a shared belief of providing a superior user experience, its addition will extend the convenience and reliability that Swiggy is synonymous with."
As Swiggy brings with it a conducive ecosystem and the right resources for expansion, the acquisition will enable Scootsy's expansion across Mumbai as well as propel its foray into 4-5 major Indian cities in the coming months, the statement said.
"As we continue to evolve with our much-loved user experience, our users will benefit from Swiggy's operational excellence and deep understanding of the ecosystem," Scootsy CEO Sandeep Das said.
The acquisition will extend the breadth and selection of company's existing network of 40,000 restaurants by adding more curated restaurants to it, Swiggy said.