Yes, the Momondo Acquisition Is Crucial for Priceline Group
Summer is, of course, the most important time of the year for the travel industry. So it was fitting that Priceline Group (NASDAQ: PCLN) closed its latest acquisition this summer -- Copenhagen-based Momondo Group. That's good news for shareholders because although Momondo Group is not large compared to Priceline, it is critical for its new parent's success. Here's why.
Back in February, Priceline agreed to buy Momondo Group in an all-cash deal for $550 million. That bought it three notable assets. The main one is the near-namesake momondo, which is a metasearch engine, meaning that it returns search results for airline tickets, hotels, and car rentals. Actual purchases are made through those vendors.
Momondo Group also includes Cheapflights, a complementary site that promises discount flights and travel deals, and momondo.pro, which targets business travel.
Source: Fool.com
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