Image Source: Investorplace website
Expedia has acquired online travel agency Travelocity from the parent company Sabre Corporation, a technology provider to the global travel and tourism industry, for USD 280 million in cash.
The acquisition is mainly for Travelocity’s US and Canadian websites, along with providing its access to Expedia’s supply and customer service program, as according to the report by VCcircle.
Dara Khosrowshahi, Expedia’s President and CEO said, “Travelocity is one of the most recognized travel brands in North America, offering thousands of travel destinations to more than 20 million travellers per month.”
Tom Klein, Sabre president and CEO said, “We have had a long and fruitful partnership with Expedia, most recently by partnering to strengthen the Travelocity business, so our decision to divest Travelocity is a logical next step for us both.”
In 2009, Travelocity had acquired Travelguru for around USD 10-12 million. The Travelguru brand was retained by Travelocity, however it brought in a common branding element in the logo.Category Ecommerce Investments