M&A Deal Summary

American Express Acquires Tock

On June 21, 2024, American Express acquired internet software and services company Tock from Squarespace for 400M USD

Acquisition Highlights
  • This is American Express’ 5th transaction in the Internet Software and Services sector.
  • This is American Express’ 3rd largest (disclosed) transaction.
  • This is American Express’ 13th transaction in the United States.
  • This is American Express’ 2nd transaction in Illinois.

M&A Deal Summary

Date 2024-06-21
Target Tock
Sector Internet Software and Services
Buyer(s) American Express
Sellers(s) Squarespace
Deal Type Divestiture
Deal Value 400M USD

Target

Tock

Chicago, Illinois, United States
website
Tock is a reservation, table, and event management system used by restaurants, wineries, and bars around the world. Tock was founded in 2014 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

American Express

New York, New York, United States

website


Category Company
Founded 1850
Sector Financial Services
Employees74,600
Revenue 60.4B USD (2023)
DESCRIPTION
American Express' regional offices in downtown Sydney, Australia.
American Express' regional offices in downtown Sydney, Australia.

American Express is a global financial services company offering payment and credit services to consumers and businesses. The Company's principal products and services are charge and credit payment card products and travel-related services. American Express was incorporated in 1850 and is based in New York City.


DEAL STATS #
Overall 18 of 18
Sector (Internet Software and Services) 5 of 5
Type (Divestiture) 3 of 3
State (Illinois) 2 of 2
Country (United States) 13 of 13
Year (2024) 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-16 Accertify

Itasca, Illinois, United States

Accertify is a provider of fraud prevention, chargeback management, account protection, and payment gateway solutions. Accertify's technologies help protect many businesses and increase their operational efficiency. Accertify is based in Itasca, Illinois.

Sell -

Seller(S) 1

SELLER

Squarespace

New York, New York, United States

website


Category Company
Founded 2003
Sector Internet Software and Services
Revenue 1.0B USD (2023)
DESCRIPTION

Squarespace is a cloud-based content management system that allows individuals and businesses to create and maintain websites and blogs. From designers creating the next generation of web and mobile experiences to anyone managing their own online presence for the first time, Squarespace provides elegant solutions that set new standards for online publishing. Squarespace was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 Tock

Chicago, Illinois, United States

Tock is a reservation, table, and event management system used by restaurants, wineries, and bars around the world. Tock was founded in 2014 and is based in Chicago, Illinois.

Buy $400M