NEW YORK — Google Inc. has reached a deal to buy Zagat Survey LLC., the restaurant review company that rates eateries, hotels and retailers.The founders of Zagat will stay on board and the headquarters will remain at Columbus Circle in New York City. Although not disclosed, sources report the deal was worth between $100 million and $200 million.
“Moving forward, Zagat will be a cornerstone of our local offering — delighting people with their impressive array of reviews, ratings and insights, while enabling people everywhere to find extraordinary — and ordinary — experiences around the corner and around the world,” Marissa Mayer, vice-president of local, maps and location services, was quoted as saying on the official Google Blog.
Zagat was established 32 years ago and operates in more than 100 cities.
The announcement of the deal sent shares of another restaurant review site — Open Table — down by eight per cent to $57.50.