Priceline Buys Kayak for $1.8 Billion
Kayak sells after going public four months ago
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.
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