Wix.com Acquires OpenRest to Bring Online & Mobile Ordering to Restaurants Worldwide

Acquisition Drives Wix's Mobile and Vertical Expansion Strategy

TEL AVIV, Israel, Oct. 29, 2014 (GLOBE NEWSWIRE) -- Wix.com Ltd. (Nasdaq:WIX), a leading global web development platform, announced today its acquisition of OpenRest, a provider of online ordering and mobile solutions for restaurants. The move supports Wix's plans to continue to narrow in on the online needs of industry-specific verticals, while expanding the overall depth of its product suite.

With over 55 million users worldwide, Wix lets anyone create a complete online presence, as well as manage additional aspects of their business – beyond website creation – all from one cohesive environment. OpenRest offers restaurant owners an easy-to-implement, turn-key system enabling online menu and order management, native mobile app development and payment processing. The OpenRest acquisition is a natural continuation of Wix's verticalization strategy, first revealed in the company's August launch of WixHotels. With OpenRest onboard, Wix will now offer restaurant owners a complete online business solution precisely tailored to their needs.

With an estimated 350,000 independent restaurants in the US alone, and the consumer trend of ordering take-out and delivery online and on mobile devices, there is a significant need for restaurants to provide customers with a complete online experience. OpenRest's integration into the Wix platform will enable restaurant owners to take orders directly from their Wix websites and native mobile apps, giving them complete ownership of their customers and reducing reliance on costly phone orders or the use of commission-based marketplaces. Wix and OpenRest plan to launch a complete online business management solution for restaurants during 2015.

"OpenRest perfectly complements our strategy to further enhance the Wix platform with tailored industry-specific solutions. There's no industry more deserving of this focused attention than the restaurant industry," said Avishai Avrahami, Wix Co-Founder and CEO. "With Wix and OpenRest, restaurateurs will have a technologically advanced and cost effective solution to better manage their business and their customers' experience."

"We launched OpenRest four years ago with the goal of helping restaurant owners and operators streamline their businesses and tap into the opportunities presented by the internet. By joining a market leader like Wix, we will be able to exceed this goal and take our technology so much further," said Danny Leshem and Yoav Amit, co-founders of OpenRest who will both join Wix. "We're very proud of the solution we developed and are excited to continue to change the way restaurants do business online."

Terms of the acquisition were not disclosed. The acquisition is not expected to have a material impact on Wix's non-GAAP operating results. 

About Wix.com Ltd.:

Wix.com is a leading cloud-based web development platform with over 55 million registered users worldwide. Wix was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online. The Wix Editor and highly curated App Market enable users to build and manage a fully integrated and dynamic online presence. Wix's headquarters are in Tel Aviv with offices in San Francisco, New York, Vilnius and Dnepropetrovsk.

For more information, visit: http://www.wix.com/.

About OpenRest:

OpenRest was founded in 2011 by Danny Leshem and Yoav Amit with a vision to bring easy to use, turnkey online solutions to independent restaurant owners and operators around the world. OpenRest technology provides restaurants with an easy-to-use solution to enable online ordering, including web and mobile order management, interactive menu management, native mobile applications, analytics, push notifications and POS integration. OpenRest is headquartered in Tel Aviv and was represented by Yigal Arnon & Co.

Forward-Looking Statement

This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance and may be identified by words like "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek" and similar terms or phrases. The forward-looking statements contained in this press release are based on management's current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results or actions to differ materially from those indicated in the forward-looking statements include, among others, our ability to grow our user base and premium subscriptions; our ability to maintain and enhance our brand and reputation; our ability to manage the growth of our infrastructure effectively; changes to technologies used in our solutions or in global, national, regional or local economic, business, competitive, market, regulatory and other factors discussed under the heading "Risk Factors" in our annual report on Form 20-F for the year ended December 31, 2013 filed with the Securities and Exchange Commission on March 20, 2014. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.


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