After its purchase of Travelocity last month, online travel booking giant Expedia has just added rival Orbitz Worldwide to its interests, buying the firm for approximately 1.4 billion dollars, it said on Thursday.
Under the deal, which saw Orbitz shares rise by over 21 percent, Expedia will acquire all of Orbitz’s brands.
“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,” Expedia president and CEO Dara Khosrowshahi said.
The transaction, which is still pending shareholder and regulatory authorities approval, makes Expedia and the larger Priceline Group the market’s two main players.
Expedia was not the only bidder for Orbitz.