1.Date of occurrence of the event:2025/11/13
2.Company name:91APP, Inc.
3.Relationship to the Company (please enter ”head office” or
”subsidiaries”):Head office
4.Reciprocal shareholding ratios:NA
5.Cause of occurrence:
91APP (91APP*-KY, 6741; “91APP”), the first cloud-native SaaS company
listed in Taiwan, announced today that its subsidiary,
91APP (Taiwan), Inc., has resolved to acquire 100% of the shares of
iCHEF Co., Ltd. (“iCHEF”), a leading AI-powered restaurant technology
company in Taiwan, for US$32 million in cash. The consideration represents
approximately 20% of 91APP’s total consolidated assets and will be
fully funded through internal cash resources. The acquisition marks
91APP’s official expansion into the Food and Beverage (F&B) sector,
broadening its total addressable market (TAM) and revenue base,
strengthening AI capabilities and talent pool, and creating new growth
opportunities across advertising and third-party payment businesses.
The transaction is subject to regulatory approval before completion.
Upon completion, 91APP will integrate iCHEF’s products, technologies,
customer base, and operational capabilities to build a cross-industry
technology platform powered by three synergistic growth engines:
RetailTech, F&BTech, and AdTech. The acquisition will expand 91APP’s TAM
and recurring revenue base while generating multiple synergies, including
enhancing third-party payment operations through higher transaction volumes
and payment density, broadening the digital advertising network with richer
consumer intent insights to improve targeting and ROI, enabling
cross-industry AI applications through a more diversified customer base,
and acquiring a strong pool of experienced, immediately deployable talent
to further advance R&D and service capabilities.
Founded in 2012, iCHEF is a leading AI-powered restaurant technology company
in Taiwan, dedicated to integrating operational workflows and industry
know-how for F&B operators. Its cloud-based POS platform serves as the core
of a comprehensive restaurant management system, supporting online
reservations, QR code ordering, loyalty program management, and sales
analytics. Leveraging open data and proprietary analytics, iCHEF has also
developed an AI-driven growth advisor to help restaurants accelerate digital
transformation and enhance operational efficiency. The company currently
serves more than 15,000 restaurant locations across Taiwan, Hong Kong, and
Singapore. Its products have earned multiple international design honors,
including the iF Gold Award, Good Design Award, and Red Dot Design Award.
Founded in 2013, 91APP is Taiwan’s first publicly listed cloud-native SaaS
company, combining retail industry expertise with software innovation to
empower medium and large retail brands in digital transformation and AI
adoption, enabling success in D2C (Direct-to-Consumer) business models and
OMO (Online-Merge-Offline) strategies. Since its listing in 2021, 91APP has
delivered consistent double-digit annual growth in both revenue and profit,
reaching record highs each year. Through strategic partnerships and targeted
acquisitions, the company has expanded its footprint to Hong Kong, Malaysia,
and Japan, advancing toward its vision of becoming the leading SaaS provider
in the Asia-Pacific region.
The 91APP management team brings deep hands-on experience in both investment
and M&A execution, with a proven track record of leveraging acquisitions to
accelerate growth and create long-term value. Past transactions include
acquiring a Hong Kong startup to establish an overseas hub and investing
in a Malaysian partner to expand across Southeast Asia. Each deal has marked
a strategic inflection point in the company’s expansion. This acquisition,
the largest in 91APP’s history, was executed through close
cross-departmental collaboration and professional due diligence by internal
teams and external experts to ensure a fair valuation, appropriate deal
terms, and clearly defined synergies. With strong alignment in business
models and organizational culture, the transaction is expected to generate
steady and sustained long-term growth for 91APP.
Looking ahead, 91APP will take this acquisition as a new strategic milestone
to integrate the strengths of RetailTech, F&BTech, and AdTech, building
cross-industry payment services and AI application scenarios that empower
physical retailers to digitalize operations, drive the intelligent upgrade
of the lifestyle industry, deliver new experiences for consumers, and create
new value for brands. At the same time, 91APP will continue to validate the
replicability of its technologies, the cross-industry scalability of its
services, and its market expansion capabilities, accelerating progress toward
its long-term vision of becoming an EveryTech SaaS company and solidifying
its leadership in the SaaS and AI sectors across Taiwan and the Asia-Pacific
region.
6.Countermeasures:None
7.Any other matters that need to be specified(the information
disclosure also meets the requirements of Article 7, subparagraph 9
of the Securities and Exchange Act Enforcement Rules, which brings
forth a significant impact on shareholders rights or the price of
the securities on public companies.):None