The Momondo Group has sold to the Priceline Group, owner of rival travel search service Kayak, in a $550 million deal.
The deal will see the two brands within the group, Momondo and Cheapflights, “roll under” the Kayak division.
Priceline Group president and CEO, Glenn Fogel says “metasearch is appealing to consumers and we’re keen to expand our global footprint”.
“Momondo and Cheapflights will be nice additions to our meta portfolio under KAYAK.”
“Momondo and Cheapflights have built great products serving loyal users across Europe,” said Steve Hafner, CEO, KAYAK. “We’re looking forward to learning from them and sharing best practices as our brands expand globally.”
“The Priceline Group has a proven track record of operating successful, customer-centric travel brands all over the world,” said Hugo Burge, CEO of Momondo Group. “We couldn’t be more excited to join such an esteemed group of loved brands and join forces with KAYAK to bring the best in meta search to our growing customer bases worldwide.”
More to follow…