AmEx to buy restaurant booking platform Tock for $400 mln

June 21 (Reuters) – American Express (AXP.N), opens new tab is buying Squarespace-owned (SQSP.N), opens new tab restaurant booking platform Tock for $400 million to expand its foothold in the dining industry, a category that accounted for $100 billion in spending on its cards last year.

The all-cash deal, unveiled on Friday, will build upon the credit card giant’s acquisition of online restaurant reservation platform Resy in 2019.

Resy helps AmEx cardholders get special access to some restaurants, including exclusive reservations, early notifications or cashback on certain bookings made through the platform.

Source: REUTER