Travel search firm Momondo Group bought by Priceline for $550m
Deal, which will see London firm become part of Priceline subsidiary Kayak, is expected to conclude later this year
Momondo Group, a London-based travel search engine firm, has been acquired by US travel e-commerce company Priceline for $550m.
Founded in 1996, Momondo Group runs both Cheapflights, a flight comparison site, and Momondo, a search engine for flights, hotels and car rentals.
The company claims that more than a million people use its sites every day across web, mobile and app platforms.
The deal is expected to be concluded later this year, with Momondo Group becoming part of Priceline’s subsidiary Kayak.
Momondo CEO Hugo Burge recently wrote a review of his favourite business book Good to Great for Startups.co.uk.
Hugo Burge, CEO of Momondo, commented: “This announcement heralds an exciting new chapter for our business and our teams.
“We look forward to becoming part of the Kayak family within The Priceline Group, and are very confident that the blend of brands and our different strengths will help us to jointly pursue what we both believe most passionately in – building products users love.
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“Our business is in great shape across the 30-plus markets in which we operate, and we’re looking forward to the opportunity to build on that further.”