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Priceline to buy rival travel site Kayak in deal worth US$1.8 bil.

NEW YORK -- Priceline has agreed to buy rival travel website Kayak in a stock-and-cash deal worth US$1.8 billion, the companies said Thursday.

Priceline Group President and chief executive Jeffery Boyd said Kayak “has world class technology and a tradition of innovation,” and that “we can be helpful with Kayak's plans to build a global online travel brand.” The deal comes just months after Kayak launched a long-delayed public offering that raised some US$91 million.

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