The Priceline Group acquires OpenTable for a cool $2.6 billion
The incredibly popular Internet travel booking company Priceline has announced that it’s sealed a deal to acquire OpenTable for $103 per share, which will set Priceline back a total of $2.6 billion — that’s $4 million less than Apple paid for Beats Electronics last month.
You may wonder why we’re covering this acquisition here on Cult of Android. Well, OpenTable recently launched an app for Android, which enables its users to reserve seats at over 31,000 restaurants in the U.S., Canada, Mexico, France, Germany, Japan and the U.K.. So we thought it only fair to bring you the latest news on the application.
“OpenTable is a great match for The Priceline Group. They provide us with a natural extension into restaurant marketing services and a wonderful and highly-valued booking experience for our global customers. We look forward to helping the OpenTable team accelerate their global expansion, increase the value offered to their restaurant partners, and enhance the end-to-end experience for our collective customers across desktop and mobile devices.” announces Darren Huston, President and CEO of The Priceline Group.
The deal is expected to close sometime during Q3 of 2014 with the keys to the servers and all of OpenTable’s databases being handed over to Priceline at an official rebranding event, scheduled to take place mid-September.
OpenTable will then run as an independent business within the Priceline Group it will also continue to be based in San Francisco and be governed by its current management team; so don’t expect any major changes within the service itself.
Want to view the full press release? If so, then be sure to hit the source link down below.
- SourceThe Priceline Group