In a recent news press, web-based travel company Expedia, announced its intentions to purchase all of Orbitz Worldwide brands for approximately $12 a share. The buyout has already been approved by the Board of Directors of both companies.
The massive transaction, which still needs a majority approval by shareholders, will include Orbitz Worldwide’s common stock which would cost Expedia.com around $1.6 billion US.
Dara Khosrowshahi, President and Chief Executive Officer, Expedia, Inc. said, “We are attracted to the Orbitz Worldwide business because of its strong brands and impressive team. This acquisition will allow us to deliver best-in-class experiences to an even wider set of travelers all over the world.
“From the flagship Orbitz.com brand, to other well-known consumer brands such as CheapTickets, ebookers and HotelClub and the business-to-business brands Orbitz Partner Network and Orbitz for Business, the Orbitz Worldwide team has built a devoted customer base and we look forward to welcoming them to the Expedia, Inc. family.”
Barney Harford, Chief Executive Officer, Orbitz Worldwide explains, “Our mission at Orbitz Worldwide has been to build our brands to be the world’s most rewarding places to plan and purchase travel.
“We’re excited for Orbitz Worldwide to join the Expedia, Inc. family and for our teams to work together to further enhance the offerings we provide to our customers and partners.”
Orbitz is a favorite with US travelers, being the most popular flight and hotel-search travel option, ranking third.
The sale of Orbitz to Expedia also includes ebookers, CheapTickets and Hotel club as well as several B2B brands.
Last month, Expedia picked up travel giant Travelocity for $280 million. The company’s portfolio also includes:
Expedia.com®, the world’s largest full service online travel agency with localized sites in 31 countries
Hotels.com®, the hotel specialist with localized sites in more than 60 countries
Hotwire®, a leading discount travel site that offers opaque deals in 12 countries throughoutNorth America, Europe and Asia
Travelocity®, a pioneer in online travel and a leading online travel agency in the US and Canada
Egencia®, the world’s fifth largest corporate travel management company
eLong™, a leading mobile and online travel service provider in China
Venere.com™, an online hotel reservation specialist in Europe
trivago®, a leading online hotel metasearch company with sites in 49 countries
Wotif Group, a leading operator of travel brands in the Asia-Pacific region, including Wotif.com®, lastminute.com.au®, travel.com.au, Asia Web Direct®, LateStays.com, GoDo.com.au and Arnold Travel Technology
Expedia Local Expert®, a provider of online and in-market concierge services, activities, experiences and ground transportation in hundreds of destinations worldwide
Classic Vacations®, a top luxury travel specialist
Expedia® CruiseShipCenters®, a provider of exceptional value and expert advice for travelers booking cruises and vacations through its network of 180 franchise locations across North America
CarRentals.com™, the premier car rental booking company on the web