Priceline Group Inc (NASDAQ:PCLN) has announced that it will be acquiring OpenTable Inc (NASDAQ:OPEN) for $103 per share in an all cash transaction that is valued at $2.6 billion. OpenTable sees over 15 million diners seated per month across more than 31,000 restaurants. It has seated over 125 million diners worldwide through its mobile app, which launched in 2008. Priceline, the large accommodation booking platform, sees an average of more than 1 million guests stay in accommodations booked through Priceline.com or an affiliate.
Priceline has acquired small Israeli startup Qlika for $3 million in cash, according to sources with Re/Code. Priceline acquired Qlika to target its own ad campaigns in local markets. Six of Qlika’s employees will be joining Priceline and will work on Priceline’s Agoda hotel-booking service initially. Qlika can automate the implementation of ad campaigns for micro-locations, including search campaigns with Google. Qlika was founded in 2012 and raised around $1.7 million in funding. Qlika also participated in the Silicon Valley accelerator program for Israeli companies called UpWest Labs.
Priceline.com Inc (PCLN) and Kayak Software Corp (KYAK) has gotten been cleared for landing their merger. The two companies said that all of the necessary regulatory approvals have been obtained and they closing date of the proposed merger of KAYAK and Priceline.com is scheduled for May 21, 2013.
Priceline.com has announced that they will be acquiring KAYAK in a stock and cash transaction worth $1.8 billion. This deal values KAYAK’s stock at $40 per share. Priceline.com will be paying $500 million of the consideration in cash and $1.3 billion in equity and assumed stock options.
Priceline.com Incorporated (NASDAQ:PCLN)? co-inventor Jay S. Walker is suing Facebook over patent infringement through his company Walker Digital LLC. “We believe this suit is completely frivolous and we will fight it vigorously,” stated Facebook spokesman Andrew Noyes. The patent covers the ability for computer users to establish anonymous communications. The complaint claims that three Walker Digital employees had invented a system that allows people to manage and control release of personal information. Walker is the chairman of Walker Digital. The case is filed as Walker Digital LLC v. Facebook Inc., U.S. District Court, 10cv1026, District of Delaware (Wilmington). The patent in question is 5,884,271. [BusinessWeek]
The stock price of Priceline.com has substantially increased since 10 years ago when the Internet company signed William Shatner to endorse their brand.
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