Travelore News: Expedia Completes Acquisition Of Orbitz
BELLEVUE, WA - Expedia, Inc today announced that it has completed its acquisition of Orbitz Worldwide, Inc, including all of its brands and assets, for $12.00 per share in cash, representing an enterprise value of approximately $1.6 billion. With the completion of the transaction, Orbitz Worldwide, Inc. stock is no longer being traded on the New York Stock Exchange.
"We are pleased to welcome Orbitz Worldwide to our family of leading travel brands," said Dara Khosrowshahi, Expedia, Inc. Chief Executive Officer. "Our mission is to revolutionize travel through the power of technology. Given Orbitz's focus on transforming the way consumers around the world plan and book travel, we couldn't be more aligned. As we bring our talented teams and capabilities together, we will be well positioned to accelerate the pace of innovation to deliver even better customer experiences to Orbitz's loyal customer base and to further enhance the marketing and distribution capabilities we offer to our global supply partners."