Priceline is getting into the restaurant reservations space with the announcement it intends to acquire OpenTable. Pictured is the Zentan Restaurant in a Kimpton Hotel in Washington, D.C. / Kimpton Hotels
- OpenTable, the restaurant reservations platform attracts some 15 million restaurant reservations monthly with over 620 million diners, according to its website.
- The Wall Street Journal reported that the Priceline Group agreed to offer OpenTable $103 per share in an all-cash deal, and that would be a 46% premium over its closing share price June 12.
- The deal, which is expected to close in the third quarter, is larger than the Priceline Group’s 2013 acquisition of Kayak for $2.1 billion.