Cendant books Orbitz acquisition


Cendant books Orbitz acquisition

Travel and hospitality company Cendant will acquire online travel supplier Orbitz for around $1.25bn (£690m).

Cendant said it had reached a definitive agreement to buy all Orbitz shares. The deal has been approved by both boards and, subject to regulatory and other approvals, will close in November.

A global company, Cendant owns a myriad of hotel chains, car hire companies, travel reservations systems and estate agents. Cendant said it would continue to operate online travel supplier CheapTickets.com along with the better-known Orbitz.com brand, although it would combine the companies' technology platforms and operations.

Cendant chairman and chief executive officer Samuel LKatz said the deal "provides a foundation for significant synergies in technology, fulfillment and operations."

Orbitz boss Jeffrey Katz (no relation to Samuel Katz) said the deal provided greater resources and opportunities to Orbitz employees, customers and suppliers.

"And we're pleased that the consumer-friendly and supplier-friendly aspects of the Orbitz model will go forward due to Cendant's agreement to continue providing unbiased fare displays on Orbitz.com."

According to online consumer research supplier ComScore Networks, Orbitz.com had 13.2 million unique visitors in August, behind market leaders Expedia.com and Trip.com with 19.7 million and 13.4 million respectively.

Todd Weiss writes for Computerworld

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