Expedia increases its presence in Asia Pacific with $658m deal to buy web travel firm Wotif | thenextweb.com
US travel booking giant Expedia is expanding its presence in the Asia Pacific region after announcing a deal to buy Australia-based online hotel and travel booking company Wotif Group for A$703 million (US$658 million). The 13-year-old company is listed on the Australian Securities Exchange, has offices in nine countries and counts Wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct, LateStays.com, and GoDo.com.au among its businesses. The deal works out at A$3.30 (US$3.09) per share, which is around a 30 percent premium on the valuation of the company based on last week’s trading.
