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Priceline To Buy OpenTable For $2.6 Billion

Posted by Soulskill on from the monopoly-money dept.

An anonymous reader sends this news from Bloomberg: Priceline Group Inc. stepped up its acquisition spree by buying OpenTable Inc. in a deal valued at $2.6 billion, adding restaurant bookings to an online travel business already spanning flights, hotels and cars. The all-cash offer of $103 per share for the popular Internet restaurant reservation company is 46 percent higher than OpenTable's closing price yesterday. The deal is expected to be completed in the third quarter, the companies said in a statement today. Priceline is buying a company that seats over 15 million diners per month across more than 31,000 restaurants via online bookings.

1 of 43 comments (clear)

  1. In a Bubble by organgtool · · Score: 3, Insightful

    At this point, I think it's safe to say that we're in another tech bubble. But at least we can have fun seeing which bubble bursts first (HFT, medical, student loan, or tech).