Priceline snaps up OpenTable for a tasty $2.6bn

Priceline snaps up OpenTable for a tasty $2.6bn

Priceline, a platform for finding and booking hotels, flights, cruises, car hire and more, has announced that it will purchase online restaurant reservation platform OpenTable.

Announced today, the deal sees OpenTable’s shares snapped up for $103 each, making a total company valuation of $2.6 billion.

Priceline described OpenTable as a “great match” and said the purchase provides a “natural extension into restaurant marketing services”. Priceline also said that OpenTable would continue to be based in San Francisco and would remain operating as an independent business led by its current management team, so there shouldn’t be too many changes afoot.

The Priceline Group Agrees to Acquire OpenTable, Inc [PDF]

Featured Image Credit – Shutterstock

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