Priceline is buying OpenTable for $103/share in cash, or about $2.6 billion

Priceline announced on Friday it is buying online reservation site OpenTable for $103 per share, or about $2.6 billion.

In premarket trade, OpenTable stock soared 13 percent to around $79. (Click here to track OpenTable stock.)

“OpenTable is a great match for The Priceline Group. They provide us with a natural extension into restaurant marketing services and a wonderful and highly-valued booking experience for our global customers,” Priceline Group CEO and President Darren Huston said in a statement.

The deal is expected to close in the third quarter.

Since 2008, OpenTable has seated more than 125 million customers globally.

By CNBC

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