OpenTable (OPEN) Announces $55M Acquisition of

September 15, 2010 11:28 AM EDT
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OpenTable, Inc. (Nasdaq: OPEN) announced that they have entered into a definitive agreement to acquire for $55 million in cash.

The transaction is expected to close in the fourth quarter of 2010 and is subject to customary closing conditions.

OpenTable plans to finance the acquisition with existing cash, cash equivalents and short-term investments.

BofA Merrill Lynch is acting as financial advisor and Latham & Watkins LLP as legal counsel to OpenTable; Allen & Company is acting as financial advisor and Bird & Bird LLP as legal counsel to

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