Printed from http://www.electronista.com

Priceline to buy OpenTable restaurant reservation service for $2.6B

updated 12:11 pm EDT, Fri June 13, 2014

OpenTable technology integrated into Siri, will continue to operate independently

Travel discount purveyor Priceline has entered into a $2.6 billion dollar sale agreement with OpenTable. The $103 per share offer for the restaurant reservation service integrated into Apple's Siri technology represents a 46 percent price premium to OpenTable's stock price at the close of business on Thursday.

OpenTable offers an online real-time restaurant reservation service. The firm provides reservations at about 27,000 upscale restaurants around the world. Restaurants signing up for the service has slowed somewhat in the US and is declining in international markets, but the number of restaurants allowing OpenTable reservations still increasing overall.

Priceline says that the business will remain independent, and remain under current management. OpenTable recieves $1 from a restaurant if a prospective eater books a table through its services.

The deal comes after travel review website TripAdvisor purchased competing restaurant reservation service Lafourchette last month, signaling the entry of it into integrated travel and eating offerings.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News