Expedia has agreed to buy Orbitz for USD1.6 billion, or $12 a share. There’s still some regulatory hurdles to overcome but it looks like a done deal. The acquisition follows Expedia’s purchase of Wotif Group last November and Travelocity in January.
Orbitz, which does 3/4 of its business in the US, has been unable to compete with the Expedia-Priceline duopoly and was put for sale a couple of months ago.
See: Online Arms Race