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Daily Digit: $1.8 billion
Friday, November 09, 2012 - 00:49
Nov. 09 - Priceline.com offers to buy Kayak Software for $1.8 billion. Conway G. Gittens reports.
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The daily digit for today is $1.8 billion. That's the price tag Priceline.com is willing to pay for Kayak Software, working out to a $40 per share deal. Priceline.com, the name-your-price travel website, has done well thanks to strength in international markets. With Kayak, Priceline gets access to an online and mobile aggregator of travel websites, including itself and its competitors like Expedia.com and Orbitz. And for that reason, there is some concern that Kayak could eventually lose business with Priceline as a parent. But that's not detracting Priceline from plopping down $500 million in cash and $1.3 billion in equity, attracted by Kayak's strong position in the mobile world.
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Daily Digit: $1.8 billion
Friday, November 09, 2012 - 00:49
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