EXPEDIA has recently announced that it has completed its acquisition of Orbitz Worldwide, including all of its brands and assets, for US$12 per share in cash, representing an enterprise value of approximately US$1.6 billion.
As such, Orbitz Worldwide stock is no longer traded on the New York Stock Exchange.
“We are pleased to welcome Orbitz Worldwide to our family of leading travel brands,” said Expedia’s CEO Dara Khosrowshahi in a statement. “Our mission is to revolutionise travel through the power of technology. Given Orbitz’s focus on transforming the way consumers around the world plan and book travel, we couldn’t be more aligned.
“As we bring our talented teams and capabilities together, we will be well-positioned to accelerate the pace of innovation to deliver even better customer experiences to Orbitz’s loyal customer base and to further enhance the marketing and distribution capabilities we offer to our global supply partners.”
The acquisition was first announced in February this year. Before the deal, Orbitz owned Orbitz.com, CheapTickets, ebookers and HotelClub.
Expedia has also acquired Travelocity earlier this year.
