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TripAdvisor Signs Exclusive Offer To Acquire Lafourchette

Stocks in this article: TRIP

NEWTON, Mass., May 6, 2014 /PRNewswire/ -- TripAdvisor, Inc. (NASDAQ: TRIP) today announced it has made an exclusive offer to acquire lafourchette, an online restaurant booking platform with a network of more than 12,000 restaurant partners across Europe.

TripAdvisor Logo.

lafourchette is the leading online and mobile reservation platform for restaurants in France, Spain and Switzerland. The company also offers management software solutions helping restaurants to maximize online business by providing an effective and flexible booking, discount and data tool. Based in Paris, lafourchette operates the 'eltenedor' brand in Spanish and 'thefork' brand in English. 

"We look forward to welcoming lafourchette to the TripAdvisor family," said Stephen Kaufer, president and CEO, TripAdvisor, Inc. "lafourchette has an unparalleled network across Europe and has developed strong relationships with its restaurant partners. As a global company, we look forward to strengthening the lafourchette brand and working together to enhance the TripAdvisor restaurant offering for users."

"This deal would allow us to tap into TripAdvisor's huge global scale to drive more diners into restaurants and investment capital to expand aggressively into new markets," said Bertrand Jelensperger, CEO, lafourchette.  

After closing, lafourchette and its employees will continue to operate from the company's existing European offices, with headquarters in Paris and Barcelona.

The exclusive offer to acquire lafourchette, which has been majority owned by Otium Capital since 2009, has also been signed by the shareholders of lafourchette. The parties intend to finalize the transaction shortly after the legal and administrative requirements have been completed.

The terms of the offer will not be disclosed. 

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