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LivingSocial Buys Online Ordering System Provider Onosys
LivingSocial.com, the second- biggest provider of online daily deals, said it acquired Onosys, a maker of ordering software, as it seeks to offer more services to companies.
The Onosys team will join the merchant solutions group at LivingSocial, which is run by Dickson Chu, according to Brendan Lewis, a spokesman. Terms of the deal weren’t disclosed.
LivingSocial is expanding beyond the daily-deals market, where it goes head-to-head with market leader Groupon Inc. (GRPN) Onosys, based in Cleveland, specializes in technology that helps restaurants receive orders over the Web and mobile phones. Its clients include Papa John’s International Inc. (PZZA), Panera Bread Co. (PNRA) and Applebee’s International Inc.
Following Groupon’s initial public offering last year, Washington-based LivingSocial lined up $400 million in funding to give it a valuation of about $6 billion, a person familiar with the matter said in December. The company was in talks last year about raising $1 billion in an IPO before tapping the private markets instead.
The deal provider lost more than $500 million last year, Amazon.com Inc. said in a regulatory filing in February. Amazon is a backer of LivingSocial.
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