American Express buys TheFork for $700m
American Express acquires TheFork, the European restaurant-reservation platform, from Tripadvisor for $700m in cash. The payments company announced the proposed deal on Monday, adding a booking network of more than 50,000 restaurants across 11 European countries to a dining business it has been quietly assembling for years. The structure is an all-cash put-option agreement, a […] This story continues at The Next Web
American Express has acquired TheFork, a European restaurant reservation platform, from Tripadvisor for $700 million in cash. The deal was announced on Monday and includes a network of over 50,000 restaurants across 11 European countries. American Express has been building its dining business for several years. The transaction is structured as an all-cash put-option agreement. This acquisition is part of the company's strategy to expand its presence in the dining sector. TheFork will now operate under American Express's umbrella. The deal is expected to enhance the company's offerings for its customers.
The acquisition strengthens American Express's position in the restaurant reservation market, providing added value to its cardholders.
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