Tripadvisor sells TheFork platform to American Express for $700M
- Tripadvisor executed a put option agreement to divest its European online restaurant reservation platform to American Express.
- The total all-cash transaction value is set at $700 million with minimal expected tax costs.
- The platform divestment is driven by a corporate strategy to focus heavily on experiences and capital returns.
Tripadvisor (NASDAQ:TRIP) executed a put option agreement to sell its European online restaurant reservation and management platform, TheFork, to American Express (NYSE:AXP) for $700 million in cash.
The divestment follows an announcement from the travel platform operator in February 2026 stating that the business would explore strategic alternatives for the segment.
The transaction is expected to close before the end of 2026, and the company expects net proceeds to be close to gross proceeds.
The divested asset generated $232 million in revenue and $28 million in segment adjusted EBITDA for the twelve months ended March 31, 2026.
Tripadvisor stated that the transaction is expected to provide greater financial flexibility for future capital returns, debt reduction, and potential inorganic investments.
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