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Recruit Holdings reserves Quandoo to expand in restaurant information

Mar 05, 2015 - The Deal Pipeline
Mergers and Acquisitions

Japanese services conglomerate Recruit Holdings Co. Ltd. on Thursday, March 5, agreed to buy Berlin restaurant reservation platform Quandoo GmbH to expand its dining-out information business.

Recruit, of Tokyo, is to  pay Euro198.6 million ($219.8 million) for 92.9% of Quandoo, providing an apparently profitable exit for the two-year-old target's venture capital investors. Recruit picked up a 7.1% Quandoo stake in December.

"We envisage that the acquisition of Quandoo will allow u...