⚡ Get All Content for 20% Off ⚡

Priceline Snaps Up OpenTable for $2.6 Billion in Cash The acquisition, expected to close later this year, represents the online travel company;s initial foray into the dining industry.

By Geoff Weiss

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Priceline, which facilitates the online sale of airline tickets and hotel rentals, has purchased restaurant reservation platform OpenTable, marking its initial foray into the dining industry.

Priceline paid $103 per share in an all-cash transaction valued at $2.6 billion, according to a statement. That's a 46 percent premium over OpenTable's closing price yesterday.

OpenTable, which books 15 million monthly diners across its stable of 31,000 restaurants, will "provide us with a natural extension into restaurant marketing services," said Priceline's CEO, Darren Huston.

The sale is expected to close in the third quarter, whereupon OpenTable will continue to be headquartered in San Francisco and operate as an independent business with its current management team intact.

Other Priceline properties include Booking.com, KAYAK and rentalcars.com.

Related: Airbnb Piloting Dinner Party Program for Complete Strangers

Geoff Weiss

Former Staff Writer

Geoff Weiss is a former staff writer at Entrepreneur.com.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Business News

Costco CFO Reveals Uncertain Fate of $1.50 Hot Dog and Soda Combo

CFO Richard Galanti reveals that the price will stay the same — but only "for a while."

Business News

The Most Unexpectedly Popular Side Hustle of the Decade Has Low Startup Costs and High Markups

A new report shows that vending machines are a popular investment — and the industry is set to grow up to $3 billion by 2031.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.