Priceline.com To Buy Kayak
Realigning the online travel business, Priceline.com on Thursday agreed to buy rival Kayak for $1.8 billion in cash and stock. “A bomb just dropped in the online travel world,” Rafat Ali writes in Skift. Likewise, Forbes calls the move a “major shake-up” for the industry.
If and when the deal closes, “Priceline will gain a great online and mobile team to build its portfolio and will put muscle behind the Kayak brand,” Ali adds.
“The acquisition … could provide a new source of revenue for the company,” The New York Times’ DealBook blog writes.
“Kayak adds a valuable new brand to [Priceline.com’s] expanding portfolio,” writes Search Engine Land. Along with Priceline.com, the company’s properties include Booking.com, Agoda.com, Cheaptickets.com, and Rentalcars.com.”
Big picture, “the move consolidates travel research tools and bookings,” writes ZDNet. Yet, “Kayak.com will remain a separate property, owned by Priceline but managed by Kayak’s existing team,” AllThingsD notes.
Jokes CNet: “Wonder if Priceline Negotiator William Shatner helped broker this deal.”