Priceline to Buy OpenTable

Priceline offered $103 a share in cash Thursday. The deal is expected to close in the third quarter. OpenTable charges restaurants monthly fees to seat diners who reserve their seats.

“The sort of work that we do day-to-day is quite similar,” Priceline PCLN -2.99% Chief Executive Darren Huston said in an interview. “It’s simply a different marketplace.”

As with hotel booking services, OpenTable’s main strength lies in its stock of over 31,000 organizations. The service “still has plenty of room to expand,” Mr. Huston said, particularly outside the U.S. and on cellular devices.

Priceline, which has grown over the last decade largely by acquiring travel websites like Booking.com and Kayak.com, is looking for new methods to keep profits growing after a decade of quadruple-digit increase. The amalgamation extends Priceline’s customer base to include the 15 million individuals that book restaurants through OpenTable each month

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Pete Southern

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