NEW YORK — Commute booking web page Expedia says it can be buying quick-time period condominium market HomeAway for $3.9 billion to boost its presence within the vacation rental market.
The Bellevue, Washington, firm mentioned Wednesday it is paying roughly $38.31 in money and stock for each and every share of HomeAway, of Austin, Texas.
Each corporations’ boards have approved the deal, which they are expecting to shut next yr.
HomeAway Inc. says it has more than 1 million paid listings of trip condo houses in A Hundred Ninety nations. Expedia, which has owned Motels.com on account that 2001, additionally purchased two major opponents this 12 months. In January, the corporate also purchased Travelocity for $280 million, and it offered Orbitz for $1.Three billion in February.
In after-hours trading, HomeAway’s shares delivered 22% to $39.05. Expedia’s shares rose 2.8% to $137.95.
Further reporting Via Mashable.
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