Priceline to acquire Momondo group
Copenhagen – 8 February 2017
Priceline group pays 550 million USD for acquisition of all shares of Momondo group. The meta searcher with it’s platforms momondo.com and cheapflight.com will be led by Priceline’s Kayak.
“Momondo has a strong brand presence in certain parts of Europe, a market where we are keen to continue expanding our global meta footprint,” said Glenn Fogel, CEO of The Priceline Group. “Meta is a model consumers like and we think Momondo will complement KAYAK’s current consumer offering.”
“Momondo and Cheapflights have built great products serving loyal users across Europe,” said Steve Hafner, CEO of 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, scaled travel brands all over the world,” said Hugo Burge, CEO of Momondo. “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.”
The deal is expected to close later in the year. Headquartered in the UK and Copenhagen, Momondo will report into Kayak CEO Steve Hafner.
The Priceline Group is one of the leading online travel and related services, provided to customers and partners in over 226 countries through six primary brands – Booking.com, priceline.com, KAYAK, agoda.com, Rentalcars.com, and OpenTable.