After being criticized for its big move to buy Motorola Mobility (MMI) last month, Google (GOOG) is now cheered by a smaller, yet important acquisition of restaurant review firm Zagat.
When seen together with the company’s partnership with local search networks Local.Com (LOCM), this move helps Google expand its presence in another content area that can be monetized in a number of different ways, including offerings to local restaurants. This means that Google is going head to head against highflier Open Table (OPEN). What does it mean for investors?
While this development is expected to have a small impact on Google’s stock (up less than half percent), it already has big impact on Open Table’s stock—near 10 percent down after the announcement.
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