Thailand-based e-Commerce platform LINE MAN Wongnai said Thursday it has reached an agreement to acquire FoodStory, a Thai startup specializing in restaurant point-of-sales (POS) systems, in order to expand its merchant solutions business to every restaurant segment in Thailand.

LINE MAN Wongnai said in a statement that the acquisition will expand its restaurant management system, including both POS and mobile merchant app, to all restaurant segments in Thailand, reaffirming its position as the country’s No.1 POS market leader.

According to the statement, FoodStory develops restaurant POS systems with over 11 years of experience working closely with restaurant operators across Thailand.

It said this is an important milestone for LINE MAN Wongnai to integrate the technological resources, talents, and expertise of FoodStory.

“The acquisition of FoodStory is an important step for us as the market leader in the merchant solutions segment,” said Yod Chinsupakul, Chief Executive Officer of LINE MAN Wongnai.

“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,” he said.

LINE MAN Wongnai Chief Financial Officer In Young Chung said the deal with FoodStory is further underpinning the firm’s 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,” he said.

Ekaluck Viriyakovithya, Chief Operating Officer – Lifestyle & Solution Services, LINE MAN Wongnai, said the firm’s restaurant management system Wongnai POS 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,” he added.

Thagoon Chartsutipol, Founder and Chief Executive Officer of Living Mobile Co., Ltd., the developer of FoodStory, said that over the past 11 years in the POS business, the firm has 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,” he said.

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 of Lifestyle & Solution Services, LINE MAN Wongnai.

LINE MAN Wongnai is Thailand’s largest tech startup with a valuation well above $1 billion after the series-B funding led by GIC and LINE.

LINE MAN Wongnai brings together an e-commerce platform for services including food delivery, grocery delivery, taxi, messenger, restaurant reviews and restaurant solutions.

FoodStory is a solution provider managed by Living Mobile Co., Ltd., that offers POS solutions for the food and beverage industry.

The company secured Series B investment from Beacon VC, a venture capital firm of Kasikorn Bank, and JWD Group.

Thailand’s LINE MAN Wongnai raises $265M Series B funding led by GIC and Line