- OpenTable (OPEN +7.2%) is buying Rezbook, the restaurant reservation platform developed by InterActiveCorp's (IACI -1.7%) UrbanSpoon restaurant app unit.
- Rezbook was once feared as a serious rival to OpenTable, but the platform has made limited headway in the face of OpenTable's superior network effects. It currently has ~2K restaurant customers to OpenTable's 28K+.
- As part of the deal, OpenTable is becoming the North American reservation platform for Urbanspoon's popular apps.
- The deal comes as Yelp and Groupon both make efforts to encroach on OpenTable's turf.
- OpenTable's Q2 results arrive this afternoon.