Expedia said Thursday that it will buy rival online travel booking company Orbitz in a deal valued at $1.6 billion.
Expedia (EXPE) CEO Dara Khosrowshahi said the acquisition will help his company compete with bigger rivals, including Google (GOOG)and TripAdvisor (TRIP), in the $1.3 trillion online travel market.
Expedia to buy Orbitz in $1.6 billion deal - Feb. 12, 2015
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