Optus to acquire Eatability for $6m
- — 26 July, 2012 12:30
Telecommunications giant, Optus, has announced that it will acquire Australian restaurant and review website, Eatability, for $6 million.
Eatability was launched in 2003 by Celeste and Hui Ong. It currently hosts more than 235,000 restaurant reviews and 37,000 listings.
The acquisition is part of Optus’ strategy to provide more localised digital content and services for the Australian market.
It will serve as a foundation for future transaction-based business and mobile services in the lifestyle category, according to the telco.
The agreement, which is subject to approval from the Foreign Investment Review Board, will see Eatability become a wholly owned subsidiary of Optus.
“By acquiring Eatability, we have secured a critical building block to deliver a highly engaging and distinctive local digital application,” Group Digital L!fe Local L!fe head, Loo Cheng Chuan, said.
Chuan revealed that Optus plans to expand Eatability by extending it to smartphones, and making it personalised and contextually relevant.
This announcement follows SingTel Group’s recent acquisition of Singaporean food portal, HungryGoWhere.