Priceline.com LLC, a Delaware company, announced Friday its plans to purchase OpenTable for $2.6 billion cash. Priceline.com is the leader of online hotel booking and is also the parent company to other online sites including kayak.com, booking.com, and rentalcars.com. The all cash deal for $103 a share is a 46% premium over the company’s closing price of $70.43 last Thursday.

OpenTable.com started in 1998 and derives revenue from restaurants. Opentable allows users to book reservations for their favorite restaurants online without charging a fee. The company however, charges restaurants a monthly fee to book and reserve tables for diners using their website. In addition, restaurants pay a fee for the hardware and software necessary to join the online network. The company profited approximately $33 million on a $190 million revenue in 2013.

With an inventory of over 30,000 restaurants, the company reserves seats for over 15 million users per month. The company “still has plenty of room to expand” says Priceline CEO Darren Huston. “They provide us with a natural extension into restaurant marketing services and a wonderful and highly-valued booking experience for our global customers.”

News of the purchase comes a few weeks after TripAdvisor, an online travel review website, purchased Lafourchette, a restaurant reservation services based out of Paris. Priceline hopes to also expand OpenTable which already offers services in London, Hong Kong and other cities. By using their own resources and offices in all major cities across the world, Priceline will effortlessly expand the company into more cities.

Company executives intend to increase OpenTable’s revenue that currently relies approximately 80% on U.S. in addition to expanding Priceline by offering more than just transportation and lodging. With over 480,000 properties located in more than 200 countries worldwide, 80% of Priceline’s revenue is generated overseas. On an average night, more than 1 million users stay at lodging accommodations secured by one of Priceline’s companies, profiting $1.9 billion on a $6.8 billion revenue.

Priceline intends to allow OpenTable to conduct its business independently, subject to their own management, a similar strategy it used in acquiring Booking.com and Kayak.com. The purchase is estimated to close in the third quarter of this year.