Orbitz gives In, hires bankers to find a buyer
With Travelocity seemingly on the verge of getting officially acquired by Expedia Inc., Orbtiz Worldwide may soon get a new owner, as well.
Bloomberg reports that Orbitz has a financial advisor and is exploring a sale.
An official at a competitor to Orbitz told Skift two weeks ago that it was an open secret that Orbitz has been engaged in a process to be acquired for some time, although the activity now appears to have entered a more formal stage. According to the source, Goldman Sachs is representing Orbitz in the sale.
Bloomberg reports that Orbitz, which until recently had been controlled by Travelport and the Blackstone Group, is attracting interest from private equity companies and other online companies. Orbitz’s stock rose 7.7 percent to $9.87 per share mid-afternoon on January 20.