French tire company Michelin, also known for its leading travel, hotel and restaurant guides, has acquired London-based company Bookatable, which enables people to book restaurants online in the UK and other parts of Europe. The purchase price and terms of the deal were not disclosed.
Update: DiGITAL claims the price paid amounts to about €108 million.
Previously known as Livebookings, Bookatable says it has more than 15,000 establishments using its service, and boasted more than 34 million covers booked in 2015 across Europe. The company's roots date back about a decade, and the company has raised more than $60 million in funding from investors like Balderton Capital, Wellington Partners and Ekstranda.
Michelin concluded a multi-year partnership with the British company in March 2013, which allowed it to incorporate Bookatable's solutions into the Michelin Restaurants offer. Michelin's statement:
"With this acquisition Michelin is able to capitalise on its traditional experience in the restaurant industry and becomes the European leader in the online restaurant reservation market. Michelin will be able to roll out its offering in new countries in the future - in particular in Scandinavia.
With its focus on mobility, Michelin is now speeding up its growth in travel assistance services by offering customers a unique mobility experience with high added value products and services. The association between Michelin, the world restaurant guide leader with its MICHELIN guide, and BookaTable, the European leader in the online restaurant reservation market, helps restaurateurs develop their business by offering new solutions and helps customers by making it easier to book."