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Friday October 31, 2014

CT Based Priceline to Acquire Kayak for $1.8B

Image representing Priceline as depicted in Cr...

Image via CrunchBase

Priceline has agreed to acquire travel price comparison engine Kayak for $1.8 billion dollars in a cash and stock deal. Both Kayak and Priceline are based in Norwalk, Connecticut but Priceline has said it will operate Kayak as an independent subsidiary, according to CNN Money. Kayak “has world class technology and a tradition of innovation in building great user interfaces,” Priceline CEO Jeffery Boyd said in a prepared statement.

Kayak launched eight years ago and made a name for itself  in the travel space with its “metasearch” engine, which lets shoppers compare prices across many different vendors for flights, hotels and rental cars.

 CNN Money