Google agrees to buy ITA Software for $700M in cash
The agreement is subject to regulatory approvals.
Google indicates it will not transition into travel transactions, but will focus on search with ITA Software in the fold.
Google will also evaluate ITA Software’s airline reservations system business, but no decisions have been made about its fate.
Google plans to talk to airlines before making a decision about how to handle ITA’s airline reservations system business.
ITA founder and CEO Jeremy Wertheimer will head Google’s ITA unit.
“ITA’s very talented team has created an impressive product to organize flight information,” said Eric Schmidt, Chairman and CEO of Google. “Their technology opens exciting possibilities for us to create new ways for users to more easily find flight information online, and we’re looking forward to welcoming them to Google.”
Dennis Schaal was North American editor for Tnooz.