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Monday, 26 January 2015

Expedia Acquires Travelocity for $280 million

Online travel giant Expedia has acquired its rival Travelocity from its parent company, Sabre Corporation for $280 million.

Before this acquisition, Expedia and Travelocity had a 2013 strategic marketing agreement in which Expedia powered the technology platforms for Travelocity’s US and Canadian websites along with providing Travelocity access to Expedia, Inc.’s supply and customer service program.

Expedia already well known properties like Hotels.com, Hotwire , Egencia, and CarRentals.com among many others.

The company’s latest move brings together two of the market’s largest travel services, but in a way, they were already together. Since 2013, Expedia has powered Travelocity’s US and Canadian websites as well as its customer service program, and it has shared its hotel offerings with the company.

Meanwhile, now that it has let go of Travelocity, Sabre Corp. says it can concentrate on its core business: back-end systems for the sale of airline tickets, hotel rooms, and car rentals.

“We have had a long and fruitful partnership with Expedia, most recently by partnering to strengthen the Travelocity business,” Tom Klein, Sabre President and Chief Executive Officer said in a statement, “so our decision to divest Travelocity is a logical next step for us both.”

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