The Priceline Group’s purchase of Momondo for USD 550 million represents the company’s first acquisition of scale since buying OpenTable for USD 2.6 billion in 2014.
It is also the newly appointed Glenn Fogel’s opening strategic move since becoming CEO in January of this year.
NB: This is an analysis by Jamie Hutton, an associate at Livingstone Partners.
We assess the group’s latest acquisition – following deals in recent years for the aforementioned OpenTable and Kayak in 2012 – in the following way.
Glenn Fogel – the right man to drive future growth
Priceline Group's new CEO Glenn Fogel
For a company that has grown EBITDA at a compound annual growth rate of 33% from 2010 to 2015 and increased its market cap from USD 10 billion to USD 81 billion since the start of 2010, Fogel’s appointment came at an unusually challenging time for the travel giant.
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