American Express has announced a pending $700 million all-cash acquisition of TheFork, Tripadvisor’s European restaurant reservation and management platform. The deal is described as expanding Amex’s dining network by adding TheFork’s restaurant booking capabilities across Europe. Multiple outlets report that the transaction follows Amex’s recent efforts to build a broader dining business, including previous acquisitions of Resy and Tock. Together, these platforms are expected to increase Amex’s footprint in restaurant reservations to roughly 75,000 bookable venues across Europe. TheFork is positioned by reporting as a major reservation brand in the region, similar in role to other global reservation networks. Sources also describe the transaction structure as a put-option or similar agreement, with the purchase price set at $700 million and payment to be made in cash. The reporting centers on Amex’s goal of strengthening cardholder engagement and services tied to dining, while Tripadvisor’s stake in the restaurant booking market is reduced through the sale of TheFork. The timing and closing conditions were not detailed in the provided excerpts.
American Express to buy Tripadvisor’s TheFork restaurant booking platform for $700 million
American Express has announced a pending $700 million all-cash acquisition of TheFork, Tripadvisor’s European restaurant reservation and management platform. The deal is described as expanding Amex’s...
- American Express agrees to buy Tripadvisor’s TheFork restaurant reservation and management platform for $700 million.
- The transaction is reported as an all-cash deal (with one outlet describing it as structured as a put-option agreement).
- The acquisition is expected to expand Amex’s dining network, with reporting citing about 75,000 bookable venues across Europe when combined with other platforms.
- Amex positions the purchase as part of a broader dining strategy that includes prior acquisitions of Resy and Tock.
- TheFork is described by outlets as a leading restaurant booking brand in Europe, providing reservations across multiple European countries.
American Express’ pending $700 million acquisition of TheFork, Tripadvisor’s dining reservations platform, could speed up one of its key goals — expanding its global network. Amex said dining is one of the chief avenues for cardholder engagement, and TheFork is the leading restaurant reservations brand in Europe — essentially its OpenTable. TheFork does business with […]
2 months agoAs competition for diners' spending heats up, the card company agreed to pay $700 million for the European reservation and management platform.
2 months agoAmerican Express wants to acquire restaurant reservation management platform TheFork from Tripadvisor for $700 million. Announcing the proposed deal in a Monday (June 15) news release, American Express said it was designed to build on the company’s broader dining strategy following its acquisitions of Resy and Tock. Put together, the three platforms expand the Amex dining network to 75,000 venues, the […] The post Amex Looks to Spend $700 Million to Buy TheFork From Tripadvisor appeared first on PYMNTS.com.
2 months agoThe all-cash deal will expand American Express's dining network to 75,000 bookable venues across Europe
2 months ago
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