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Why Priceline Plucked Kayak

11/14/2012| 10:03:33 AM| 中文

One of the world's largest online travel agents, Priceline is well positioned for the mobile boom, something which can only be helped by the acquisition of Kayak.

NEW YORK (TheStreet) -- Priceline.com's (PCLN) $1.8 billion deal to purchase Kayak Software (KYAK) came as a big surprise, but on closer inspection looks like a smart move for the online travel giant.

The deal, which coincided with Kayak's third-quarter-earnings, was certainly a bolt out of the blue. TheStreet, for example, had scheduled a post-earnings interview with Kayak CEO Steve Hafner on Thursday, but that was abruptly cancelled by the company when news of the acquisition hit.

In typical M&A fashion, Priceline shares slipped down 1.26% to $619.99 shortly after market open on Friday, while Kayak's stock climbed 26.61% to $39.39. Analyst reaction to the deal, though, is overwhelmingly positive.

Read full story at: http://www.thestreet.com/story/11762547/1/why-priceline-plucked-kayak.html

TAGS: Priceline | acquisition | Kayak | Expedia
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