SINGAPORE (Reuters) - Grab, Southeast Asia's biggest ride-hailing and food delivery firm, has bought Singaporean dining reservation platform Chope for an undisclosed price, according to confirmation from both companies on Tuesday.
"We believe the addition of Chope's products and services provides more synergies for our merchant-partners, especially in helping them capture online-to-offline opportunities," a Grab spokesperson said in a statement.
Business Times first reported on the acquisition on Monday, citing an internal email seen by the publication.
Grab said in the statement that its focus is to help level the playing field for small and medium-sized businesses, which form the majority of merchants on its platform and which lack the resources of bigger brands.
Chope founder Arrif Ziaudeen said in a statement that it has chosen to seek a partner to help it pursue new opportunities for sustainable growth in a challenging and competitive market.
"We evaluated potential buyers and found the best fit with Grab - a company with a mission aligned to ours in connecting restaurants to diners," he added.
Founded in 2011, Chope is available in seven cities Singapore, Hong Kong, Bangkok, Phuket, Shanghai, Bali, and Jakarta, with over 13,000 restaurants listed on its platform, according to its websites.