Thu, Feb. 12, 8:33 AM| 2 Comments
Tue, Jan. 20, 3:57 PM
- Sources tell Bloomberg Orbitz (OWW +9.1%) has "drawn interest from private-equity funds and other Internet companies." The company is reportedly working with a financial adviser (unnamed) as it reaches out to prospective buyers.
- Benchmark's Daniel Kurnos speculates "someone from the outside looking for a a foothold in the industry" would be a logical buyer for Orbitz, whose lack of scale relative to Priceline/Expedia has put it at a disadvantage. He views Google as one such potential suitor.
- Orbitz was owned by P-E firm Blackstone (through its Travelport unit) before being taken public in 2007. Shares have pared the initial gains they saw due to Bloomberg's report, but remain around $10.
Tue, Jan. 20, 1:47 PM
Feb. 15, 2013, 4:29 PMOrbitz (OWW) +1.5% AH after stating it's "exploring strategic alternatives" for its Away Network division, which includes Away.com, Trip.com, GORP.com, and AdventureFinder.com. The company adds a sale won't change its 2013 earnings outlook. Orbitz, whose shares have been depressed for some time as the company loses ground to bigger rivals Priceline and Expedia, is up 25% since it posted a Q4 revenue beat on Thursday morning. | Comment!
Aug. 13, 2012, 12:14 PMGoogle (GOOG) is buying travel guide publisher Frommer's from John Wiley & Sons for an undisclosed sum. Google hasn't decided whether to continue publishing Frommer's titles in print. Together with its purchases of ITA Software and Zagat, the deal underscores Google's ambitions to be a major player in online travel content/services, with the help of Google Maps and other local offerings. Frommer's and Zagat also lend themselves well to Google's efforts to improve mobile monetization via local ads. (TRIP/OWW impact) | 5 Comments
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Orbitz Worldwide Inc is an online travel company. It provides a platform to research, plan & book a travel products & services including hotels, flights, vacation packages, car rentals, cruises, travel insurance, destination services & event tickets.
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