OpenTable (s OPEN), one of the big beneficiaries of the emergence of mobile Internet, acquired UK-based toptable.com today for roughly $55 million in cash. Toptable.com’s network has 3,000 restaurants in the United Kingdom and another 2,000 in the rest of Europe. OpenTable had only 900 restaurants in UK and 600 in Germany. With this acquisition, the company is looking to bulk up its European presence.
This is a great move by a company that I believe is only going to keep growing because of the consumer shift to on-the-go computing. The San Francisco-based company has seen its stock jump 140 percent so far in 2010 to $60 a share. The toptable.com acquisition continues the current wave of merger & acquisitions within the technology sector.
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