OpenTable Acquires Quickcue
OpenTable has announced that it has acquired Quickcue, LLC, a provider of guest management systems for restaurants, for approximately $11.5 million in cash pursuant to an agreement and plan of merger.
"We're excited to welcome the talented Quickcue team to our restaurant technology group," said Joseph Essas, Chief Technology Officer of OpenTable. "We're looking forward to working with the Quickcue engineering team to accelerate our efforts aimed at providing our customers with the most sophisticated mobile waitlist technology on the market and developing our next generation hospitality solutions for restaurants that are primarily walk-in, but accept reservations."
The nine Quickcue team members joining OpenTable will continue to operate from their offices in Chattanooga, Tennessee. OpenTable will support approximately 40 existing Quickcue customers and plans to discontinue offering the current Quickcue product to new customers while it works on its next-generation solution.
The acquisition will be recorded in the fourth quarter 2013 financial statements of OpenTable and is not expected to have a material impact on fourth quarter and full year 2013 financial guidance provided by the Company on November 5, 2013. OpenTable will provide financial guidance for the first quarter and full year 2014 financial outlook when the Company reports fourth quarter 2013 financial results on February 6th.
"We're excited to welcome the talented Quickcue team to our restaurant technology group," said Joseph Essas, Chief Technology Officer of OpenTable. "We're looking forward to working with the Quickcue engineering team to accelerate our efforts aimed at providing our customers with the most sophisticated mobile waitlist technology on the market and developing our next generation hospitality solutions for restaurants that are primarily walk-in, but accept reservations."
The nine Quickcue team members joining OpenTable will continue to operate from their offices in Chattanooga, Tennessee. OpenTable will support approximately 40 existing Quickcue customers and plans to discontinue offering the current Quickcue product to new customers while it works on its next-generation solution.
The acquisition will be recorded in the fourth quarter 2013 financial statements of OpenTable and is not expected to have a material impact on fourth quarter and full year 2013 financial guidance provided by the Company on November 5, 2013. OpenTable will provide financial guidance for the first quarter and full year 2014 financial outlook when the Company reports fourth quarter 2013 financial results on February 6th.