Square set to buy GrubHub rival Caviar (updated)

• Re/code reports Square is set to announce the acquisition of Caviar, an online food-ordering/delivery platform that caters to high-end establishments. The NYT reports the purchase price could be around $90M.
• Caviar tries to differentiate from GrubHub (GRUB +0.3%) and other rivals both through its high-end focus, and by providing its own fleet of delivery vehicles to fulfill orders. For now, the startup's services are only available in a handful of major metro areas.
• Square, which has put its IPO plans on hold and has been reported to be mulling a sale, could cross-sell Caviar's offerings to the many restaurants that use its card readers and/or Square Reigster. The company could also integrate Caviar with its Square Order app (currently handled order pickups, but not delivery).
• Update: Caviar has confirmed the acquisition.