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AmEx to buy restaurant reservation platform Tock

Source: Squarespace

Squarespace (NYSE: SQSP), the design-driven platform helping entrepreneurs build brands and businesses online, today announced an agreement to sell Tock, the reservation, table, and event management technology provider, to American Express (NYSE: AXP) for $400 million.

"American Express has demonstrated its commitment to the hospitality industry, and we believe that as part of American Express, Tock will deliver enhanced value to our customers through access to a broad network of diners," said Matthew Tucker, Head of Tock. "We appreciate American Express' recognition of Tock's exceptional products, experienced team, and our first-rate customer base. We look forward to working together to broaden American Express' world class dining program and are excited by the tremendous opportunity to continue to innovate on behalf of our customers as part of American Express. We are also deeply appreciative of Squarespace's support of Tock's vision and its commitment to the business over the past three years."

"Since adding Tock as a Squarespace company in 2021, we have been honored to partner together to serve the hospitality industry," said Anthony Casalena, Founder and CEO of Squarespace. "We are thankful for Matt's leadership and the team's emphasis on innovative products and world class customer care. Our shared commitment to help small businesses grow has been core to our partnership and we believe the Tock business will continue to thrive in its exciting next chapter with American Express."

As part of the deal, Squarespace and American Express will also partner to deliver additional value for small businesses that use American Express Cards through the Amex Offers program (digital card-linked offers) and Card Member benefits.

The transaction is subject to customary closing conditions, including regulatory approval. 

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