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Yelp Inc To Acquire SeatMe Inc-DJ

Thursday, 18 Jul 2013 04:07pm EDT 

Dow Jones reported that Yelp Inc agreed to acquire SeatMe, Inc, a web and iPad-app based reservation solution for the restaurant and nightlife categories. With SeatMe's solution, more local restaurants and bars can provide an easy way for customers to book online reservations, enhancing the consumer experience for those who discover a great local business on Yelp. Under the terms of the acquisition agreement, Yelp will acquire SeatMe for approximately $2.2 million in cash and up to approximately 263,000 shares of its Class A common stock, for a total purchase price of approximately $12.7 million (subject to customary working capital adjustments). The transaction, which has been approved by the boards of directors of both companies, is subject to approval by the SeatMe stockholders and the satisfaction of customary closing conditions. The transaction is expected to close on or about July 24, 2013 and the purchase price recorded in Yelp's third quarter 2013 financial statements. 

Company Quote

-0.42 -0.71%
26 Nov 2014