Grubhub GRUB recently completed the acquisition of LevelUp, which manages digital ordering and payment solutions for national and regional restaurants, for $390 million in cash.LevelUp has a customer base comprising the likes of Roti, Pret a Manger, Zaxby's and Just Salad, among others. The acquisition will add more than 200 customers with robust point-of-sale integrations.Grubhub expects the LevelUp transaction to contribute revenues of approximately $2 million to third-quarter results. However, the deal will negatively impact EBITDA by less than $1 million.Meanwhile, the company also announced that it has entered an agreement to acquire certain assets of OrderUp. This will help the company penetrate the markets of California, Colorado, Indiana, Missouri, Oregon, Oklahoma and Virginia.Acquisitions and Partnerships: Key CatalystsGrubhub has been supplementing organizational growth with strategic acquisitions. The acquisitions of Yelp’s YELP Eat24, 27 assets of OrderUp markets (in 2017) and Boston-based Foodler have broadened its portfolio of restaurants. GrubHub Inc. Price and Consensus GrubHub Inc. Price and Consensus | GrubHub Inc. QuoteThe addition of Yelp’s Eat24 strengthened Grubhub’s position across Tier 1 markets and almost doubled its business in a large number of Tier 2 markets. The acquisitions are also helping Grubhub gain customers in various markets.The company ended the second quarter with 15.6 million active diners, up 70% year over year, including almost 4 million active diners from the Eat24 acquisition.Moreover, the company is benefiting from partnerships with renowned brands. Collaborations with Yelp and Groupon GRPN have made Grubhub the preferred partner for online ordering from restaurants on these platforms.In February 2018, Grubhub received a funding of $200 million from Yum! Brands YUM, owner of KFC and Taco Bell, making it the exclusive delivery partner for the two coveted brands. Notably, supported by the partnerships, the company has launched Grubhub Delivery services in more than 70 new markets at the end of second-quarter 2018.Grubhub is also integrating with travel company, TripAdvisor, which will enable U.S. users to browse for eateries and order food. We expect these partnerships to help the company rapidly penetrate the expanding food takeout market in the United States.Currently, Grubhub has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Groupon, Inc. (GRPN): Free Stock Analysis Report Yelp Inc. (YELP): Free Stock Analysis Report GrubHub Inc. (GRUB): Free Stock Analysis Report Yum! Brands, Inc. (YUM): Free Stock Analysis Report To read this article on Zacks.com click here.