Expedia Continues Taking Out Competition With $1.6B Purchase Of Orbitz

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Expedia appears to be enjoying a shopping spree of epic proportions this year. Less than a month after the online travel agency bought rival Travelocity, it’s taking out another competitor by purchasing Orbitz for $1.6 billion.

Bloomberg reports that the transaction, which is valued at $12 a share, brings brands such as CheapTickets, bookers and HotelClub under the Expedia umbrella.

Washington-based Expedia’s recent purchases are a sign the company is bulking up against competitors like travel site behemoth Priceline, which also closed several mergers last year.

Orbitz, which is the smallest online travel company without the benefit of economies of scale, began exploring a sale and reaching out to potential buyers last month, Bloomberg reports.

Expedia’s previous deal to purchase Travelocity came with a $280 million price tag. The two companies had previously been working together since 2013.

Expedia to Buy Orbitz for $1.6 Billion to Take On Priceline [Bloomberg]

by Ashlee Kieler via Consumerist