On Tuesday, online restaurant reservations specialist OpenTable (NASDAQ:OPEN) announced that it has agreed to pay $10 million to acquire privately held, San Francisco-based Foodspotting, maker of an app for finding and sharing food recommendations.
In a statement, OpenTable explained that acquiring this app will help it to add "more visually compelling content to help people decide where to dine." Furthermore, by giving restaurateurs "new opportunities to showcase their offerings," OpenTable may be able to inspire more customers to use its services to make reservations.
OpenTable shares are up 1.4% on the news at $55.12.
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