Extending its reach into restaurant reservations, online travel giant Priceline Group bought OpenTable for $2.6 billion.
Priceline paid $103 per share in cash, which is a 46% premium over OpenTable’s closing price of $70.43.
OpenTable
charges restaurants monthly fees to seat diners who book their
reservations online. It has an inventory of more than 31,000
restaurants, and seats more than 15 million diners a month.
“Travelers are diners,” Priceline CEO and President Darren Huston said in a conference call with analysts and reporters. “It’s the same customers. There’s opportunity to cross-promote brands.
“We spent a long time looking at OpenTable. It’s been on our radar for a long time. We felt now was a good time,” he said.
Hi thanks for sharing an informational article. Priceline CEO buy opentable, because he wants to expand the opentable internationally.
ReplyDeleteDarren Huston always thinks of profit, that's why he always got success.
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