Google to buy travel software firm ITA
Category Internet | Friday, July 2nd, 2010Google Inc. is getting into the travel business.The Internet search giant said Thursday that it was buying ITA Software, a flight-information software company, for $700 million in cash.But the deal could face some major turbulence.Regulators are likely to take a hard look at Google’s plans to fold the software company widely used by the travel industry into its search engine.
Rumors of the acquisition have been circulating for several months and unnerved other travel industry players, who worry that it would hand Google too much influence. Several, including Kayak.com, had competed to buy Boston-based ITA but were outbid.