Yelp acquires food ordering service Eat24

Online recommendations site Yelp acquired online food ordering service Eat24 for $134 million.

The deal will consist of $75 million in cash and approximately 1.4 million shares of Yelp stock, the company announced in a statement Tuesday.

"As more food ordering transactions move online, further integrating Eat24 will enhance our user experience with an easy-to-use product and service that allows our large consumer audience to transact directly with businesses," said Jeremy Stoppelman, Yelp co-founder and CEO, in a statement.

The transaction closed on Monday.

With the deal, Yelp announced it's raising revenue outlooks for the first quarter and full fiscal year. Shares of Yelp are up more than 5% in morning trading.

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