[Asia Economy Reporter Kwon Jae-hee] JP Morgan Chase, the largest bank in the United States, announced that it will acquire Inpactuation, the owner of the world-renowned restaurant guidebook Zoget.
According to the Wall Street Journal (WSJ) on the 9th (local time), JP Morgan Chase announced that it will acquire all businesses of Inpactuation. However, it did not disclose specific deal terms, including the acquisition amount.
JP Morgan Chase plans to operate Inpactuation as an independent brand, and the current CEO, Chris Stang, will continue to manage the company.
Founded in 2009, Inpactuation provides global restaurant information through its website and app, and holds Itzcon, a biennial food festival featuring singers and famous speakers. Inpactuation acquired Zoget from Google in 2018.
JP Morgan Chase is reportedly planning to leverage Inpactuation's assets, including Zoget, which has gained worldwide fame as a restaurant guidebook like Michelin, to enhance customer services.
Last year, JP Morgan Chase also launched Chase Dining, offering benefits such as reservation services at famous restaurants for holders of certain credit cards.
Earlier, on the 8th of this month, JP Morgan Chase announced it would acquire a 75% stake in Volkswagen Payment, the payment business division of the German automaker Volkswagen. Specific acquisition terms were not disclosed.
Additionally, in December last year, it announced plans to acquire the credit card points and other business divisions of the American service company CX Royalty.
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