Expedia has agreed to acquire Australian online travel company Wotif Group for $658 million.
Expedia will pay about 30% more for Wotif Group than the company’s average trading price on the Australian Securities Exchange during the five trading days prior to Sunday’s announcement.
The company operates Wotif.com, Lastminute.com.au, Travel.com.au, Asia Web Direct, LateStays.com, GoDo.com.au and Arnold Travel Technology.
Wotif was founded in 2000 and went public in 2006.
The acquisition is slated to close by the end of the year. Wotif Group generated $137.4 million on $1.09 billion in bookings for the year ended June 30, 2013. Expedia last year generated $4.77 billion in revenue on $39.4 billion in bookings.
Meanwhile, reports surfaced last week that Expedia would sell its majority stake in China-based eLong to Ctrip. Expedia on Monday called the reports “inaccurate.”
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Follow Danny King on Twitter @dktravelweekly.