Priceline 2.6 billion dollars in cash to buy OpenTable

Absrtact: According to the Wall Street Journal, the Online hotel reservation service provider, Priceline, purchased an online booking service provider, OpenTable, with 2.6 billion dollars in cash. Priceline is said to have purchased OpenTable at a price of $103 per share, a price relative to opentable this Thursday

According to the Wall Street Journal, the Online hotel reservation service provider, Priceline, purchased an online booking service provider, OpenTable, with 2.6 billion dollars in cash.

Priceline is said to be buying OpenTable at $103 a share, a price relative to OpenTable's Thursday closing premium of 46%. The deal is expected to be completed in the third quarter of this year.

The OpenTable, which was listed in 2009, is a dedicated restaurant reservation service, with more than 31,000 restaurants currently contracted, and about 15 million subscribers to the restaurant via its website and mobile app every month.

Priceline can penetrate the catering service market, and also can strengthen its booking service combination. Priceline President and CEO Darren Huston said in a statement:

OpenTable and Priceline are perfect for each other, they not only provide us with a natural extension to the catering service, but also provide an excellent, high-value booking experience for our global customers.