Grubhub to Buy LevelUp

Grubhub Inc. has struck a deal to buy LevelUp, a mobile diner engagement and payment solution, for restaurants for $390 million in cash.

The deal is subject to regulatory approvals.

LevelUp's technology and team will simplify Grubhub's integrations with top restaurant brands, provide more channels to attract and engage diners, and position Grubhub to accelerate product development for restaurant-facing tools.

With the addition of LevelUp, Grubhub will be able to offer national and independent restaurants a comprehensive solution to drive online delivery and pickup orders, from demand generation through fulfillment. LevelUp accelerates Grubhub's existing point-of-sale (POS) integration capabilities and provides restaurants with CRM and analytical tools to help them drive more diners to their platform and increase volume from existing diners.

In other news, Grubhub released financial results for the second quarter ended June 30. For Q2, the company posted revenues of $240 million, which is a 51% year-over-year increase from $159 million in the second quarter of 2017. Gross Food Sales grew 39% year-over-year to $1.2 billion, up from $880 million a year ago.