Priceline to buy Europe's Momondo for $550M

• Priceline (PCLN) agrees to buy Momondo Group, which operates European travel metasearch engine momondo and the Cheapflights site, for $550M.
• The momondo meta engine offers flights, hotels and car rentals, and Cheapflights is a flight comparison and travel deals publishing platform.
• PCLN says Momondo will become part of its Kayak brand once the deal is finalized later this year.