Priceline to buy rival travel site Kayak in deal worth US$1.8 bil.
November 10, 2012, 12:04 am TWN
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.