Low Cost Beds

Priceline to buy Kayak




Kayak is being bought by rival Priceline just months after going public.

Priceline has agreed to pay $1.8 billion in cash and stock for the company, making this the largest acquisition in Priceline's history.

The deal is expected to be completed at the end of the first quarter of 2013.

In a statement, Priceline said Kayak's management team will continue to manage the operations independently.

"Kayak has built a strong brand in online travel research and their track record of profitable growth is demonstrative of their popularity with consumers and value to advertisers," said Priceline Group president and CEO Jeffery H. Boyd.

"Kayak also has world class technology and a tradition of innovation in building great user interfaces across multiple platforms and devices. We believe we can be helpful with KAYAK's plans to build a global online travel brand."

Kayak was started by Paul English and Steve Hafner eight years ago.

"The Priceline Group's global reach and expertise will accelerate our growth and help us further develop as a company," said Hafner.

 

Friday, November 9, 2012



Your Comments

, be the first to post a comment.
Your email:






Email other comments made to this story
Code Request a new picture 5 characters



NOTE: Comments are subject to admin approval before being posted.
Mole Poll
The 'New Laker' Norwegian aims to end 'unreasonably high' transatlantic fares? Good Move ?
YES 64.71 %
NO 35.29 %

Thank you for your vote



Get Adobe Flash player
LATEST MOLES' GALLERIES
UPCOMING EVENTS
Sponsored features

The results are in: eco-certification delivers better business for hoteliers

Once again world-class research shows eco-certified hotels are proven to operate more efficiently and attract guests who help them save money and the environment.

Our Green Globe members have for many years reported efficiency gains in resources, particularly energy and water, from 5% to 20% per year. 

For more information about Green Globe and its certification standard and independent audits visit www.greenglobe.com