By Daniel Hunter

Online takeaway food service Just Eat have agreed to purchase Menulog, an Australian food ordering company.

855m Australian dollars ($676m; £437m) will be paid for Menulog, and will fund the deal by issuing new shares.

Menulog has 1.4 million active consumers registered to its service in Australia and New Zealand. The company generated £13.5m in revenues and £1.2m in underlying earnings in the year to March.

Just Eat commented that Menulog was "growing rapidly", with order volumes nearly doubling in the January-to-March period from a year earlier.