Priceline negotiates Kayak buy

Saturday, 09 Nov, 2012 0

Priceline, the world’s largest online travel agency by sales, is getting even bigger.

The company is buying Kayak for $1.8 billion dollars in cash and stock. Kayak’s current management team will continue to manage Kayak operations independently as part of the Priceline Group of companies

Kayak is a leading travel research site that lets users compare hundreds of travel sites at the same time when searching for flights, hotels, and rental cars.. The company processes over 100 million user queries each month through its global websites and mobile applications.

"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 CEO Jeffrey 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."

Experts say that Priceline’s growth, largely in markets outside the US, will be boosted domestically by the Kayak acquisition.

The deal is expected to close by late first quarter, 2013 and must first be approved by shareholders and regulators.

Priceline’s "Negotiator" commercials with William Shatner are widely seen as a major factor in the company’s turnaround from the dot.com meltdown into a company whose market capitalization is $31.65 billion, according to thestreet.com‘s November 6th Stock Buy Recommendation. Earlier this year Priceline brought Shatner back to life after a previous commerical ostensibly killed off the popular "Negotiator" character.

Gretchen Kelly

Discover Sarawak Revealing a side of Asia unlike anywhere else, Sarawak offers an alternative for those seeking humble authenticity far...

Global Hotel Alliance brings together a unique collection of independent hospitality brands for GHA DISCOVERY, a multi-brand loyalty programme. GHA...

A state like no other. A place known for togetherness, celebration and happiness. In Louisiana, we call it “joie de...

At Visit California, our mission is to develop and maintain marketing programs – in partnership with the state’s travel industry...

Family-owned Olympic Holidays has been arranging holidays to Greece, the Greek islands and Cyprus for more than half century. The company is unrivalled...

Greater Fort Lauderdale’s assortment of adventures awaits you. Whether you want to relax on the beach as the sound of...

Located in the heart of the Northeast and within easy driving distance of a third of the population of the...

Chargebacks911 offers scalable solutions that are customized for any business of any size in any industry. With the flexibility to...

Wonderful Indonesia Indonesia is a country blessed with countless wonders. What makes this country unique is its diverse culture and...

The superpower in bed banks for 30 years We are an award-winning and trusted accommodation wholesaler since 1991. We are...

IHG Hotels & Resorts: Redefining Hospitality Excellence IHG Hotels & Resorts is a globally renowned hospitality company that stands at...

NSW, Australia Welcome to New South Wales – a place to feel free, feel alive, feel new. As the official...

Traveltek is the world-leading provider of online solutions for the travel trade, from consumer-facing websites to call centre applications. We...

Air Transat is Canada’s number one leisure airline. It flies to some 60 international destinations in more than 25 countries...

Blue Diamond Resorts consistently goes above and beyond guest expectations by delivering groundbreaking vacation experiences through our exceptional collection of...