Squarespace, the platform known for creating websites, has recently closed a deal to acquire the business division of Tock, a restaurant reservation platform, from American Express for a whopping $400 million. This price matches what Squarespace paid to acquire the business three years ago.
The sale of Tock came after Squarespace came under new ownership by investment firm Permira, who acquired the company for $6.9 billion last month.
In 2021, Squarespace made the decision to integrate Tock into its services, providing a seamless reservation system for restaurant and hotel customers using their websites.
Source: TechCrunch
TLDR: Squarespace acquires Tock business division from American Express for $400 million, following recent ownership change and aims to enhance reservation system for restaurant and hotel customers.
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