Priceline buying OpenTable for $2.6 billion

NEW YORK — Priceline is buying online restaurant reservation company OpenTable for $2.6 billion. The deal should help Priceline, the online travel company, branch out into a new business segment.

Priceline will pay $103 per share, which is a 46 percent premium to OpenTable Inc.'s Thursday closing price of $70.43.

OpenTable's stock soared $33.423, or 47.5 percent, to $103.85 in premarket trading 30 minutes before the market open Friday.

Priceline President and CEO Darren Huston said in a statement that OpenTable gives it "a natural extension into restaurant marketing services and a wonderful and highly-valued booking experience for our global customers."

OpenTable seats more than 15 million diners per month at more than 31,000 restaurants. The company will still be based in San Francisco and will operate as an independent business led by its current management team.

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