LINE MAN Wongnai has reached an agreement to acquire FoodStory, a Thai startup specializing in restaurant POS systems, in order to expand its Merchant Solutions business to every restaurant segment in Thailand.
FoodStory develops restaurant point-of-sales (POS) systems with over 11 years of experience working closely with restaurant operators across Thailand. This is an important milestone for LINE MAN Wongnai to integrate the technological resources, talents, and expertise of FoodStory. The acquisition will expand our restaurant management system, including both POS and mobile Merchant App, to all restaurant segments in Thailand, reaffirming our position as the country’s No.1 POS market leader.
Yod Chinsupakul, Chief Executive Officer of LINE MAN Wongnai, stated, “The acquisition of FoodStory is an important step for us as the market leader in the Merchant Solutions segment. We have been working together with FoodStory since 2018, and believe FoodStory has the most advanced restaurant management system in Thailand. Its POS system greatly improves restaurant operational efficiency, aligning with the mission of LINE MAN Wongnai – Help Thai People Live Better.”
In Young Chung, Chief Financial Officer of LINE MAN Wongnai, said, “The deal with FoodStory is further underpinning our journey to become the most inspiring publicly listed tech company in Thailand. With FoodStory, our technology and operational excellence will further expand into more merchant partners to help grow their businesses efficiently. I would like to thank FoodStory founders and staff for joining this journey together.”
Ekaluck Viriyakovithya, Chief Operating Officer – Lifestyle & Solution Services, LINE MAN Wongnai, said, “Wongnai POS, our restaurant management system, is the market leader in restaurant POS in Thailand with more than 50,000 trusted restaurant operators. After the COVID-19 pandemic has subsided, the market continues to expand, and new innovations are needed to operate the store in a more holistic and integrated way to improve efficiency.
The acquisition of FoodStory, which specializes in the premium and chain restaurant markets, will speed up the development of new features for all types of restaurants.”
Thagoon Chartsutipol, Founder and Chief Executive Officer of Living Mobile Co., Ltd., the developer of FoodStory, added “Over the past 11 years in the POS business, we have been committed to the vision of building a great restaurant ecosystem. After working with LINE MAN Wongnai, we share the same vision and believe this acquisition will upgrade the Thai restaurant industry to the next level and allow our FoodStory users more access to the LINE MAN Wongnai very large ecosystem.”
Thagoon Chartsutipol and Chawin Supawong, co-founders of FoodStory, will join LINE MAN Wongnai as senior executives for the Merchant Solutions Business. In addition, more than 150 FoodStory employees will report to Ekaluck Viriyakovithya, Chief Operating Officer – Lifestyle & Solution Services, LINE MAN Wongnai.
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