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Groupon buys restaurant reservations site Savored

Updated: October 26, 2012 2:07PM

Online deals company Chicago-based Groupon Inc. has bought, a restaurant reservations website.

Financial terms were not disclosed.

Savored lets people book reservations on its website and offers discounts on meals.

Groupon said Monday that will continue to operate as it has.

“Savored’s platform nicely complements Groupon’s efforts in yield management, an area we’ve pioneered with Groupon Now,” said Dan Roarty, vice president of Groupon Now, in a statement.

Groupon Now offers deals to people to use immediately, as its name suggests.

Chicago-based Groupon’s stock slipped 8 cents, or 1.5 percent, to close at $5.20 Monday. The shares have risen from a 52-week low of $4 in early September. They traded as high as $31.14 in November after going public.

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