On Tuesday, online restaurant reservations specialist OpenTable 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.
The article OpenTable Buys Foodspotting originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends OpenTable. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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