American Express completes acquisition of reservation tech company Tock

USA – Multinational financial service corporation American Express has announced it has completed the acquisition of Tock, a technology company that provides reservation, table, and event management services.

Matthew Tucker, Tock’s head, will continue leading the company and will report directly to Pablo Rivero, American Express Global Dining Vice-President.

According to the corporation, the acquisition builds on its previous investments in travel, dining, and entertainment.

The move broadens American Express’ digital tools to merchants and restaurants.

The acquisition was formally announced in June 2024, for a cash deal valued at US$400 million from Squarespace. The recently concluded mandatory regulatory approval and final details of the closing conditions completed the acquisition.

The acquisition is inclusive of a partnership with Squarespace to deliver additional value to restaurants through the Amex Offers program and other card member benefits.

The finance corporation has also agreed to acquire Rooam, a mobile ordering and mobile payment company.

American Express revealed that Rooam’s technology is intended to complement the capabilities of Resy, a restaurant reservation platform acquired by American Express in 2019. Resy offers American Express cardholders special restaurant access, including exclusive reservations and cashback on bookings. 

According to the corporation, Rooam’s dashboard will allow restaurants to personalize their marketing, bolster their loyalty, and increase turnover rates.

The company will also leverage Rooam’s products like Rooam Order, Rooam Pay, and Rooam Tab, to improve its existing mobile ordering and payment capabilities.

Pablo Rivero welcomed the acquisition by saying, “We’re delighted to welcome the Tock team to American Express.”

“This acquisition will enhance our dining platform by making more restaurants and dining experiences available through American Express, providing restaurants and other hospitality businesses with more tools, and over time, connecting them to our network of premium diners.”

American Express expressed intentions to further invest in the reservation, table, and event management service provider.

These investments are intended to add to Tock’s network of restaurants and innovative suite of products to American Express Global Dining, which will deliver even more unforgettable experiences for diners.

Tock was launched in Chicago in 2014 and acquired by Squarespace in 2021. Its client portfolio includes 7,000 restaurants, wineries, hotels, and other bookable venues.

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