American Express to Buy Digital Restaurant-Services Company
15 Maio 2019 - 11:46AM
Dow Jones News
By Micah Maidenberg
American Express Co. has agreed to buy restaurant-services
platform Resy Network Inc., as the credit-card provider looks to
add to its portfolio of travel and dining companies.
American Express said Tuesday it wanted to buy Resy in order to
build out its suite of digital services, which include the
personal-travel-assistant app Mezi and a dining-reservation firm
focused on the U.K. called Cake Technologies. Deal terms weren't
announced.
Founded in 2014, Resy is part of a new crop of companies that
offer restaurateurs digital tools for managing tables, keeping
track of customers and processing reservations. The company works
with about 4,000 restaurants, seating more than 2.6 million diners
a week.
It competes with OpenTable, the Booking Holdings Inc. business
that has a much larger reservations business, and other newer
companies like SevenRooms.
"We look forward to working with the Resy team to continue to
grow the Resy digital platform, and develop new ways to further
connect our card members and restaurant partners through unique
access and experiences," Chris Cracchiolo, American Express's
senior vice president focused on global loyalty and benefits, said
in prepared remarks.
The acquisition is expected to be completed this summer. After
the deal, Resy will continue to be led by its co-founder and chief
executive, Ben Leventhal.
Resy's backers include Airbnb Inc., which in 2017 led a $13
million funding round in the restaurant-focused company.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
May 15, 2019 10:31 ET (14:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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