Expedia Buys Orbitz For $1.6B In Cash To Square Up To Priceline — techcrunch.com

After buying Travelocity earlier this month for $280 million, Expedia continues on its online travel acquisition spree. Today, the company announced an agreement to acquire Orbitz for $1.6 billion — or $12 per share — in cash, a premium of 29% on Orbitz’s current share price. The deal speaks to ongoing consolidation in the market, but also Expedia’s bigger competitive threat in the form of Priceline, which owns Kayak and other large travel properties, and the fact that perhaps Orbitz saw the consolidation writing on the wall itself.

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