Grab a paddle, Shatner. Priceline.com bought rival travel site Kayak for $1.8 billion in cash and stock, doling out $40 per share to Kayak’s shareholders, the firms said in a statement today.
Norwalk, Conn.-based Kayak.com went public only four months ago on Nasdaq and beat expectations in its first quarterly earnings report.
"Kayak has built a strong brand in online travel research and their track record of profitable growth is demonstrative of their popularity with consumers and value to advertisers," said Priceline CEO Jeffery H. Boyd, in a prepared statement. "Kayak also has world-class technology and a tradition of innovation in building great user interfaces across multiple platforms and devices."
Kayak.com will continue as a separate brand and remain managed by its current team, according to the companies' statement.
So with actor William Shatner of Star Trek fame (Captain Kirk) entrenched as the Priceline "Negotiator" spokesperson, might Leonard Nimoy (Spock) get beamed up for a Kayak role? Consumer resistance might be futile.