OpenTable has acquired Ness Computing. The transaction is for approximately $17.2 million in cash, or $11.3 million net of estimated Ness cash. Based in Los Altos, Calif., Ness Computing is a provider of mobile personalized restaurant recommendations. Its backers include Khosla Ventures, Alsop Louie Partners, Bullpen Capital, TomorrowVentures and American Express.
SAN FRANCISCO, Feb. 6, 2014 /PRNewswire/ — OpenTable, Inc. (NASDAQ: OPEN), the world’s leading provider of online restaurant reservations, today announced that it has acquired Ness Computing, Inc., a provider of mobile personalized restaurant recommendations, pursuant to an agreement and plan of merger for approximately $17.2 million in cash, or $11.3 million net of estimated Ness cash.
“We’re thrilled to welcome Ness to the OpenTable family,” said Joseph Essas, Chief Technology Officer of OpenTable. “The Ness team is as passionate about restaurants and helping people find the perfect table as we are, and we have tremendous respect for their talented team of data scientists, engineers and experience designers. We’re looking forward to leveraging the Ness team’s expertise to enrich the experience for diners and deepen the relationship between restaurants and their guests.”
By helping OpenTable to deliver richer experiences for diners and provide greater insights to its restaurant customers, the acquisition supports the Company’s focus on continuing to enhance the ways it helps diners discover and book the perfect table and powers more personalized hospitality for guests.
The eleven Ness team members joining the Company will be based out of the OpenTable headquarter offices in San Francisco. The Ness app and site will be discontinued as the team focuses on bringing the Ness technology to the OpenTable product and on other development efforts.
The acquisition will be recorded in the first quarter 2014 financial statements of OpenTable. The Company will provide financial guidance for the first quarter and full year 2014 financial outlook when it reports fourth quarter 2013 financial results on February 6th.
About OpenTable, Inc.
OpenTable is the world’s leading provider of online restaurant reservations, seating over 14 million diners per month via online bookings across more than 31,000 restaurants. The OpenTable network connects restaurants and diners, helping diners discover and book the perfect table and helping restaurants deliver personalized hospitality to keep guests coming back. The OpenTable service enables diners to see which restaurants have available tables, select a restaurant based on verified diner reviews, menus and other helpful information, and easily book a reservation. In addition to the Company’s website and mobile apps, OpenTable powers online reservations for nearly 600 partners, including many of the Internet’s most popular global and local brands. For restaurants, the OpenTable hospitality solutions enable them to manage their reservation book, streamline their operations and enhance their service levels. Since its inception in 1998, OpenTable has seated more than 575 million diners around the world. The Company is headquartered in San Francisco, California, and the OpenTable service is available throughout the United States, as well as in Canada, Germany, Japan, Mexico and the UK. OpenTable also owns and operates toptable, the leading consumer destination site for restaurant reservations in the UK. More information is available on http://www.opentable.com.
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