OpenTable acquires rival platform, shares jump ahead of Q2 report

|By:, SA News Editor

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.