Yelp buys restaurant technology company Nowait for $40 million

Yelp has acquired restaurant technology company Nowait in a $40 million all-cash deal, which includes the partial stake Yelp acquired previously in the company. The transaction, which was approved by the boards of directors of both companies, closed on February 28, 2017.

Based in Pittsburgh, Pennsylvania, Nowait was founded in 2010 as a mobile network for restaurants that enables users to discover real-time seating availability and remotely add their name to the waitlist. The service also supports real-time communication between the restaurant and the customer.

Nowait is live at about 4,000 restaurants across the United States and Canada with the ability to offer waitlist functionality and front of the house management to casual dining establishments, according to a statement by the company.

[Image courtesy: Nowait]

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