BELLEVUE, Wash. and
SOUTHLAKE, Texas, Jan. 23, 2015 /PRNewswire/ -- Expedia, Inc.
(NASDAQ: EXPE) and Sabre Corporation (NASDAQ: SABR) today announced
that Expedia, Inc. has acquired Travelocity from Sabre Corporation
for $280 million in cash. The
acquisition follows the 2013 strategic marketing agreement between
Expedia, Inc. and Travelocity under which Expedia has powered the
technology platforms for Travelocity's US and Canadian websites
along with providing Travelocity access to Expedia, Inc.'s supply
and customer service program.
![Expedia, Inc. Expedia, Inc.](http://photos.prnewswire.com/prnvar/20150123/170969LOGO)
"Travelocity is one of the most recognized travel brands in
North America, offering thousands
of travel destinations to more than 20 million travelers per
month," said Dara Khosrowshahi,
Expedia, Inc. President and Chief Executive Officer. "The strategic
marketing agreement we've had in place has been a marriage of
Travelocity's strong brand with our best-in-class booking platform,
supply base, and customer service. Evolving this relationship
strengthens the Expedia Inc. family's ability to continue to
innovate and deliver the very best travel experiences to the widest
set of travelers, all over the world."
"Our primary focus at Sabre is to provide mission-critical
software solutions to our global airline, hospitality, and travel
agency customers – and to help them support their customers every
day," said Tom Klein, Sabre
President and Chief Executive Officer. "We have had a long and
fruitful partnership with Expedia, most recently by partnering to
strengthen the Travelocity business, so our decision to divest
Travelocity is a logical next step for us both."
Forward-looking Statements. This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
relating to expected benefits of the acquisition agreement. These
statements are based on management's expectations as of the date
hereof and assumptions which are inherently subject to
uncertainties, risks and changes in circumstances that are
difficult to predict. Actual results and the timing and outcome of
events may differ materially from those expressed or implied in the
forward-looking statements for a variety of reasons, including,
among others, the ability of Expedia, Inc. to successfully
implement plans for the Travelocity brand, or meet forecasts and
other expectations, as well as other risks detailed in Expedia,
Inc.'s public filings with the Securities and Exchange Commission,
including Expedia, Inc.'s most recent Annual Report on Form 10-K
and subsequent Quarterly Reports on Form 10-Q. Except as required
by law, we undertake no obligation to update any forward-looking or
other statements in this release, whether as a result of new
information, future events or otherwise.
ABOUT EXPEDIA, INC.
Expedia, Inc. is one of the world's largest travel companies,
with an extensive brand portfolio that includes leading online
travel brands, such as:
- Expedia.com®, the world's largest full service online travel
agency with localized sites in 31 countries
- Hotels.com®, the hotel specialist with localized sites in more
than 60 countries
- Hotwire®, a leading discount travel site that offers opaque
deals in 12 countries throughout North
America, Europe and
Asia
- Egencia®, the world's fifth largest corporate travel management
company
- eLong™, a leading mobile and online travel service provider in
China
- Venere.com™, an online hotel reservation specialist in
Europe
- trivago®, a leading online hotel metasearch company with sites
in 49 countries
- The Wotif Group, a leading operator of travel brands in the
Asia-Pacific region, including
Wotif.com®, lastminute.com.au®, travel.com.au, Asia Web Direct®,
LateStays.com, GoDo.com.au and Arnold Travel Technology
- Expedia Local Expert®, a provider of online and in-market
concierge services, activities, experiences and ground
transportation in hundreds of destinations worldwide
- Classic Vacations®, a top luxury travel specialist
- Expedia® CruiseShipCenters®, a provider of exceptional value
and expert advice for travelers booking cruises and vacations
through its network of 180 franchise locations across North America
- CarRentals.com™, the premier car rental booking company on the
web.
The company delivers consumers value in leisure and business
travel, drives incremental demand and direct bookings to travel
suppliers, and provides advertisers the opportunity to reach a
highly valuable audience of in-market consumers through Expedia
Media Solutions. Expedia also powers bookings for some of the
world's leading airlines and hotels, top consumer brands, high
traffic websites, and thousands of active affiliates through
Expedia® Affiliate Network. For corporate and industry news and
views, visit us at www.expediainc.com or follow us on Twitter
@expediainc.
ABOUT SABRE CORPORATION
Sabre® Corporation is a leading technology provider to the
global travel and tourism industry. Sabre's software, data, mobile
and distribution solutions are used by hundreds of airlines and
thousands of hotel properties to manage critical operations,
including passenger and guest reservations, revenue management,
flight, network and crew management. Sabre also operates a leading
global travel marketplace, which processes more than $100 billion of estimated travel spend annually
by connecting travel buyers and suppliers. Headquartered in
Southlake, Texas, USA, Sabre
operates offices in approximately 60 countries around the
world.
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SOURCE Expedia, Inc.