American Express Reaches Agreement for Two Acquisitions
American Express has announced today agreements to acquire Tock and Rooam.
You might be somewhat familiar with Tock as they partnered with Chase in 2020 for Chase Dining and later Sapphire Reserve cardholders would earn 10X points on Tock restaurants.
This is a reservation, table, and event management technology provider, from Squarespace. American Express also has a partnership with Resy, which provides some of the same features and has even more restaurants.
Rooam on the other hand is a technology company that powers mobile payments, ordering and integrations with point of sale, marketing and loyalty systems used by restaurants and entertainment venues.
Both acquisitions build on American Express’ previous investments in dining, travel, and entertainment, expanding the company’s suite of digital tools for restaurants and merchants.
As part of the deal, Squarespace and American Express said they will also partner to deliver additional value for small businesses that use American Express Cards through the Amex Offers program and Card Member benefits.
The transactions are subject to customary closing conditions, including regulatory approval for the Tock acquisition.
American Express will acquire Tock for $400M in cash, while financial details of the Rooam acquisition are not being disclosed yet.
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