Priceline To Acquire Momondo For $550 Mln - Quick Facts

(RTTNews) - The Priceline Group Inc. (PCLN) announced a definitive agreement to acquire the Momondo Group in a cash transaction whereby Priceline will acquire all outstanding shares of Momondo for $550 million. Headquartered in the UK and Copenhagen, with offices in Boston, the Momondo Group, currently a portfolio company of Great Hill Partners, will report into KAYAK CEO Steve Hafner after the acquisition.

The Momondo Group, which operates momondo, a leading European travel meta engine that offers flights, hotels and car rentals, and Cheapflights, is a global flight comparison and travel deals publishing platform.