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Article: U.S. Internet Travel Company Priceline.com Acquires Bookings B.V. Online Hotel Reservation Service.
- Article from:
- Business Wire
- Article date:
- July 14, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NORWALK, Conn. & CAMBRIDGE, UK & AMSTERDAM, The Netherlands -- Priceline.com(R) (Nasdaq: PCLN) announced today that it has acquired Amsterdam-based Bookings B.V., one of Europe's leading Internet hotel reservation services, in a cash transaction valued at approximately EUR110 million, or US$133 million. The deal follows priceline.com's recent acquisition of Cambridge-based Active Hotels in September 2004.
In total, Bookings B.V. and Active Hotels have negotiated exclusive rates with almost 18,000 properties, which the companies believe is more than any other European Internet hotel reservation service. Priceline.com said it intends to retain Bookings' current ...