Home > > Priceline Group buys Momondo for $550 million

Priceline Group buys Momondo for $550 million

02/08/2017| 9:49:29 AM| 中文

The Momondo Group has sold to the Priceline Group, owner of rival travel search service Kayak, in a USD 550 million deal.

The Momondo Group has sold to the Priceline Group, owner of rival travel search service Kayak, in a USD 550 million deal.

The deal will see the two brands within the group, Momondo and Cheapflights, “roll under” the Kayak division.

Regulatory approvals are needed to close the acquisition, a statement says, with it expected to wrap up by the end of 2017.

Kayak CEO Steve Hafner will have responsibility for all of Priceline Group’s travel search brands.

Priceline Group president and CEO, Glenn Fogel says “metasearch is appealing to consumers and we’re keen to expand our global footprint”.

“Momondo and Cheapflights will be nice additions to our meta portfolio under Kayak.”

The deal gives the Priceline Group a head-start in a few of the markets where it has failed to achieve any significant traction over the years, primarily in Europe.

Momondo is traditionally a strong player in its home markets in Scandinavia (it was born in Denmark).

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TAGS: Momondo | Priceline | Cheapflights | metasearch
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