News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

LivingSocial Acquires Onosys – April 30, 2012

LivingSocial Acquires Onosys 

April 30, 2012

Daily-deal Website LivingSocial.com, the main competitor to segment pioneer Groupon, has acquired Cleveland-based Onosys, a provider of ordering software. A spokesperson for LivingSocial says the Onosys team will join the merchant solutions group at LivingSocial.

A regulatory filing submitted last February by Amazon.com, an major investor of LivingSocial, showed the deal provider reportedly lost more than $500 million last year. Onosys provides software that enables restaurants to receive orders over the Web and mobile phones. Its clients include Papa John’s Pizza, Panera Bread and Applebee’s Restaurants. According to reports, the acquisition indicates an effort by LivingSocial to expand the services it offers merchants. Terms of the deal were not disclosed.

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Daniel Leibovitch