- In tandem with its Q4 report, OpenTable (OPEN) has announced it's acquiring Ness Computing, developer of an iOS app that offers personalized restaurant recommendations, for $17.2M ($11.3M net of estimated cash on hand).
- OpenTable suggests it will use Ness' team and technology to improve the restaurant discovery/recommendation features of its own apps; Ness' app will be discontinued. The deal comes a year after OpenTable acquired Foodspotting, maker of a well-used app for finding and sharing restaurant dishes.
- Shares have added to their AH losses, as OpenTable's soft EPS guidance (the result of aggressive 2014 investment plans) overshadows a Q4 beat. The company's seated diners rose 34% Y/Y in Q4 to 44M, and its installed restaurant base 15% to 31.5K.
at Fox Business (Aug 21, 2014)