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.
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.
About 91APP
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.
About iCHEF
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.