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US: Expedia to buy Orbitz for $1.34 Billion

By  |  February 12, 2015

Expedia agreed to acquire Orbitz Worldwide for $1.34 billion in cash, seeking to reclaim the lead in global online travel bookings from Priceline.

While Expedia and larger rival Priceline Group, have embarked on acquisitions sprees to dominate the online travel business the Orbitz deal is likely to get US regulatory approval Reuters reported.

Expedia bought Travelocity in January and Wotif Group in November.

“One of the things that Orbitz brings to us is a very strong brand, a very strong customer base,” Okerstrom Chief Financial Officer Mark Okerstrom said.

Full Content: Reuters

 

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