American Express has laid out plans to acquire Squarespace-owned Tock, a reservation, table, and event management technology provider, and Rooam, a technology company that powers mobile payments, ordering, and integrations with point of sale, marketing, and loyalty systems for restaurants and entertainment venues. The acquisitions are part of American Express' ongoing investments in dining, travel, and entertainment, and aim to expand the company's suite of digital tools for restaurants and merchants.

"Restaurants are one of our largest Card Member spending categories within Travel and Entertainment, with $100 billion in volume in 2023," said American Express President, U.S. Consumer Services, Howard Grosfield. The acquisitions are expected to increase the number of restaurants offered through American Express channels and enhance the ways Card Members access experiences.

Tock, launched in 2014 and acquired by Squarespace in 2021, provides reservation, table management, and event ticketing tools to approximately 7,000 restaurants, wineries, and other bookable venues. As part of the deal, Squarespace and American Express will partner to deliver additional value for small businesses that use American Express Cards through the Amex Offers program and Card Member benefits.

"We've been offering unique dining benefits, exclusive access, and special experiences to our Card Members for years through Resy and Global Dining Access by Resy. Now, we can connect even more premium customers with the most exciting restaurants, while providing merchants and restaurants more technology to help their businesses thrive. We will be able to offer restaurants the tools to deliver more personalized hospitality, facilitate pre-paid experiences like tasting menus, and provide more convenient ways for customers to pay the bill," Grosfield said.

Rooam, founded in 2015, has become a key technology partner for customers ranging from restaurants and bars to stadiums and arenas. The company's integrations will add new capabilities to the Resy dashboard that help restaurants personalise marketing, drive loyalty, and turn tables faster.

"These acquisitions will enhance our dining platform and help us continue to support the industry's growth," said Vice President, American Express Global Dining, CEO Resy, Pablo Rivero.

The transactions are subject to customary closing conditions, including regulatory approval for the Tock acquisition. American Express will acquire Tock for $400M in cash. Financial details of the Rooam acquisition are not being disclosed.

"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 Head of Tock, Matthew Tucker.

"We built Rooam to make it easy for restaurants and entertainment venues to use major point of sale providers with other key technology systems crucial to hospitality operations. Combining our capabilities with American Express and Resy will power payments, marketing, and loyalty programs for hospitality providers, bringing together the digital tools they need in one platform," said co-founder and CEO of Rooam, Junaid Shams.