adamdodd
- American Express is expanding the technology services it offers to boost its presence in restaurants, entertainment venues, and other bookable spaces through two acquisitions, the company said on Friday.
- The credit card issuer and network agreed to acquire Tock, the reservation, table, and event management tech provider, from Squarespace (NYSE:SQSP) for $400M. American Express (NYSE:AXP) also agreed to acquire Rooam, a technology company that facilitates ordering and integrations with point of sale, marketing, and loyalty systems used by restaurants and entertainment venues, it said.
- As part of the deal, Squarespace (SQSP) and American Express (AXP) will partner to provide additional value for small businesses that use American Express cards though the Amex Offers program and card member benefits, they said.
- Financial details of the Rooam acquisition weren’t disclosed.
- Tock, launched in 2014 and acquired by Squarespace in 2021, provides reservation, table management and event ticketing tools to ~7,000 restaurants, wineries, and other bookable venues.
- American Express (AXP) said the Rooam acquisition — including Rooam Pay, Rooam Tab, and Rooam Order — will enhance its mobile ordering and payment capabilities as the credit card company continues to deepen its sports, music, and entertainment partnerships.
- Squarespace (SQSP) stock rose 0.3% and American Express (AXP) stock slipped 0.2% in Friday premarket trading.
