Feeds

Cendant offers $1bn for Orbitz

Travel mergers takeoff...

  • alert
  • submit to reddit

The Power of One Infographic

Travel company Cendant, the owner of Avis and Budget car hire firms, is in advanced talks to buy travel website Orbitz for $1bn.

Orbitz was started by five US airlines in 2000 and floated on Nasdaq for $300m in December 2003. It competes with the likes of Expedia and Travelocity, offering flights, hotels and vacations. Shares jumped 25 per cent late last night on reports of an imminent takeover. Both companies held board meetings last night to decide on the deal, according to newswires.

The deal would give Cendant, with its traditional travel business, a big web presence. Cendant owns Ramada and several other hotel chains.

There is increasing consolidation in the online travel market. UK firm Ebookers said last month that it was also in talks about a possible takeover.

Orbitz founder Alex Zoghlin is about to launch a competing website called TrueConnect. ®

Related stories

Uncle Sam demands all air travel records
Potential buyers sniff Ebookers
Orbitz founder seeks to rattle Sabre

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.