TripAdvisor-owned restaurant reservation platform TheFork has acquired competitor Restorando to expand its presence in Latin America.
Terms of the deal were not disclosed.
The acquisition will add 3,500 bookable restaurants to TheFork’s network, bringing the platform’s total number of bookable restaurants around the globe to 60,000.
It will also grow TheFork’s reach across eight countries: Argentina, Mexico, Colombia, Uruguay, Panama, Chile, Peru and Brazil, where it already operates.
Founded in 2011, Restorando is used by more than 4.5 million people each year in Latin America. The company is TheFork’s ninth acquisition over the past five years.
TheFork, which was founded in 2007 and acquired by TripAdvisor in May 2014, has its largest footprint in Europe and Australia.
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“Restorando is an innovative company that has shown a great ability for technological development, something key for us,” says Marcos Alves, head of Iberia, Australia and LATAM at TheFork.
“They have the right DNA and culture fit to help us develop our business and boost restaurant digitalization in Latin America: a pioneering spirit, determination to strive for the best, strong relationships with restaurants and a fantastic knowledge of this region of the world.”
Adds Frank Martín, co-founder and CEO of Restorando: “We’re very proud to join forces with TheFork and TripAdvisor group, to continue to work with restaurants to improve each diner’s experience and continue to help more of these businesses take reservations online.”
Restorando will continue to operate under its current name but will switch to TheFork brand in the next few months.