Tech: Yelp is selling Eat24 to Grubhub for $287.5 million (YELP, GRUB)

Yelp said it is selling Eat24 to Grubhub for $287.5 million in an all cash deal.

Yelp is selling its Eat24 food delivery service to Grubhub for $287.5 million in cash, the company announced today.

Yelp shares are up 19% in after hours trading on the news. Shares of Grubhub were up 1.6%.

Yelp and Grubhub will enter into a "long-term strategic partnership" as part of the deal, in which Yelp will integrage online ordering from Grubhub restaurants into its platform.

The deal is subject to closing conditions, including antitrust approval.

Yelp, an online reviews site, acquired Eat24 in February 2015 for $134 million.

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Yelp said it is selling Eat24 to Grubhub for $287.5 million in an all cash deal. Read Full Story