ITA Software, a flight information software company, and Google have signed a definitive agreement for Google to acquire ITA for $700 million in cash, subject to adjustments.
“ITA’s very talented team has created an impressive product to organize flight information,” said Eric Schmidt, Chairman and CEO of Google. “Their technology opens exciting possibilities for us to create new ways for users to more easily find flight information online, and we’re looking forward to welcoming them to Google.”
“It is a privilege to work with a most skilled and dedicated team to build innovative technologies that people use every day,” said Jeremy Wertheimer, CEO & President, ITA Software, Inc. “We are all looking forward to continuing and expanding our efforts as part of Google.”
Founded in 1996 by a team of MIT computer scientists, ITA’s technically advanced solutions for organizing flight information were hailed as a catalyst for change in the online travel industry. Its innovative algorithms and deep airline industry expertise create a customizable flight data organization tool used by both airlines and online travel agencies.
The deal will allow Google to pursue the creation of new flight search tools that will enable users to find better flight information more easily on the Internet. Google is excited about ITA’s QPX business and the opportunity to work closely with current and future customers. Google will honor all existing agreements and looks forward to adding new partners.
Location: USA, Cambridge, CA & USA, Mountain View, CA
Other recent Google acquisitions
- Google to make cash offer to acquire Global IP Solutions Posted on May 10, 2010
- Google acquires Labpixies Posted on April 30, 2010
- Online photo editor Picnik Acquired by Google Posted on March 9, 2010
- Google has acquired DocVerse Posted on March 6, 2010
- Social search engine Aardvark has been acquired by Google Posted on February 14, 2010
- Google is acquiring AppJet, the small startup that builds the popular collaboration tool EtherPad Posted on December 4, 2009
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