Priceline.com Buys Kayak Software in $.18B Deal
Priceline.com said it will buy Kayak Software Corp. in a friendly deal valued at $1.8 billion, bolstering its travel research and advertising capabilities, Reuters reported. Priceline is offering $40 a share for Kayak, a 29 percent premium to the company's closing price of $31.04 on Thursday. It expects to pay $500 million in cash and $1.3 billion in equity. Kayak, which offers a website and mobile applications to help consumers compare prices for airlines, hotels and rental cars, went public in July with shares priced at $26. It operates like a search engine, letting consumers compare pricing along with other websites such as Priceline.com rivals Expedia Inc. and Orbitz Worldwide Inc.
9 November 2012•3 mins read
