American Express (AXP) Acquires Tock for $400M, Expands into Mobile Payments with Rooam Purchase

In a strategic move to bolster its portfolio of high-end business services, American Express AXP has completed the acquisition of Tock, a comprehensive platform for restaurant, event, and reservation management, for a price tag of $400 million. This acquisition aligns with the company's commitment to enhancing the dining experiences and benefits offered to its cardmembers, simultaneously strengthening B2B services for the restaurant industry.

Enriching Payment Solutions with Rooam

Alongside this major investment, American Express has also reached an agreement to purchase the mobile payments technology company, Rooam. While financial terms have not been disclosed, this move underscores American Express' ambition to expand its mobile ordering and payment capabilities, providing customers with more seamless and integrated payment experiences. As consumer behavior increasingly tilts towards mobile-first approaches, these acquisitions signal American Express' keen interest in staying ahead of the digital curve within the financial services sector.

About the Companies

The American Express Company, headquartered in New York City, is a global financial services corporation offering a wide range of services including charge and credit card products, travel-related services, and reward programs. AXP^®.

Squarespace, Inc. SQSP, also based in New York, offers a dynamic online platform aiding diverse clients in establishing and managing an Internet presence. Its tools cater to independent businesses and creative minds seeking to develop and grow their brand in the digital space.

ChoiceOne Financial Services, Inc. COFS, the banking holding company of ChoiceOne Bank, delivers community banking services to corporations and individuals. Operating from Michigan, the firm is committed to nurturing small-scale communal financial growth.

AmEx, Tock, Rooam