Grubhub Inc. (NYSE: GRUB) has agreed to acquire Yelp Inc.'s (NYSE: YELP) Eat24 online food delivery business for $287.5 million. Deal activity among online meal providers is picking up steam, as diners seek convenient food options without leaving their homes.
The two businesses combined will work with more than 75,000 restaurants, and will expand each company's customer's base, while giving restaurants access to more diners. Chicago-based Grubhub alone is partnered with about 55,000 restaurants through the Grubhub, Seamless, AllMenus and MenuPages brands. Eat24 works with about 35,000 restaurants.