EXPEDIA yesterday announced it has entered into an agreement to acquire Orbitz Worldwide, a move that will bring well-known online travel retailers such as CheapTickets under the same roof as Expedia’s Wotif and Hotels.com.
The acquisition, including all of Orbitz’s brands, totals to approximately US$1.6 billion and remains subject to approval by the shareholders of a majority of Orbitz’s common stock and other customary closing conditions, including applicable regulatory approvals.
Said Dara Khosrowshahi, president and CEO, Expedia: “We are attracted to the Orbitz Worldwide business because of its strong brands and impressive team. This acquisition will allow us to deliver best-in-class experiences to an even wider set of travelers all over the world.
“From the flagship Orbitz.com brand, to other well-known consumer brands such as CheapTickets, ebookers and HotelClub and the business-to-business brands Orbitz Partner Network and Orbitz for Business, Orbitz has built a devoted customer base and we look forward to welcoming the team to the Expedia family.”
This follows Expedia’s acquisition of Wotif in July last year as the group aims to secure a position in Asia.
