Expedia Inc. (EXPE) has completed the acquisition of Wotif.com Holdings Ltd. for a total cash consideration of A$703 million or A$3.30 per share (equivalent to US$612 million or US$2.87 per share based on the exchange rates as of Nov 13, 2014). This deal was announced in July.
Australia-based Wotif.com is an online travel company that offers hotel rooms, airline tickets, and vacation packages in more than 69 countries. The company has a number of online travel brands in the Asia-Pacific region including, Wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct, LateStays.com, GoDo.com.au and Arnold Travel Technology.
The acquisition will complement and enhance Expedia’s corporate travel portfolio with the addition of leading online travel brands. Also, the deal will help increase the company’s exposure in the Asia-Pacific region, while boosting international revenues. In the last quarter, the company’s international business was up 16.7% sequentially and 20.3% from the last…
