German retailer Metro AG said Oct. 8 that its digital unit, Hospitality.digital, agreed to acquire Czech restaurant reservation service provider Restu.
Financial terms of the deal were not disclosed, but Metro said that closing of the transaction "is expected to take place shortly," subject to certain conditions.
Restu, which was founded by venture capital company Miton CZ sro, provides reservation services for restaurants in the Czech Republic. Through Restu, Czech restaurant partners handle more than 500,000 reservations every year, according to the release.
In a statement, Metro CEO Olaf Koch said that the acquisition will allow the company to offer value-add to its customers as the Prague-based startup's online reservations service is easy to use for both customers and restaurant owners.
"With this deal, we are looking forward to helping our 50,000 Czech hospitality customers access Restu's solutions more easily," said Miles Graham, operating partner at Metro.
Metro added that the transaction aligns with Hospitality.digital's strategy of supporting digital business models that allow independent restaurateurs to improve their earnings with modern and digital tools.