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CYBERG to acquire stake in Coffeeshop Company

CYBERG, a company listed on the Budapest Stock Exchangeʼs Xtend platform which runs Kajahu, a "social digital restaurant chain", on Wednesday said it signed a memorandum of understanding on acquiring a stake in Coffeeshop Company, state news wire MTI reports.

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Earlier in April, CYBERG said it signed a cooperation agreement with Coffeeshop Company on rolling out its "Food/drinks For Free Anywhere" (3FA) business model at the franchise operatorʼs cafés.

Under the contract, CYBERG will deliver the IT solutions to make the rollout possible by Q1 2021.

Adopting the 3FA business model, Coffeeshop Company will exchange a free café experience for electronic purchases made on digital platforms.

There are 203 Coffeeshop Company cafes in 21 countries. In Hungary, the company has 12 units.

CYBERG earlier unveiled its disruptive "Food for Free" (3F) business model that generates additional revenue through ads, commissions, cross-selling, and subscription-only content at Kajahu locations. Revenue from such digital services could overtake foodservice revenue once the Kajahu franchise network reaches critical mass, according to CYBERGʼs strategy.

CYBERG has two Kajahu locations in Budapest and is opening one in Parndorf, Austria, near the border with Hungary.