Online Travel Agency Expedia to Buy Rival Orbitz
Expedia announced the signing of a definitive agreement under which it will acquire Orbitz Worldwide and all of its brands late on Thursday.
Expedia said it is doing so in part to bring in programmers, designers, and marketers from Orbitz given the intense competition for talent in the tech industry.
The transaction has been approved by both companies’ boards of directors and is subject to the approval of Orbitz’ shareholders.
Expedia bought Travelocity in January and Wotif Group in November. It also owns Hotels.com and Hotwire among other travel-related brands.
Microsoft launched Expedia in 1996 as one of its first forays into travel and online commerce. It was spun off into a separate company in 1999. Orbitz was founded in 2001 as a partnership
Orbitz was originally established through a partnership of five major airlines, Continental Airlines, Delta Air Lines, Northwest Airlines, and United Airlines, later joined by American Airlines, in 1999.
(Photo: Accura Media Group)