Expedia has completed its acquisition of 61.6% of the fully-diluted equity of trivago, a German hotel metasearch company, paying approximately €434 million in cash (approximately US$564 million based on March 8, 2013 exchange rates) and agreeing to issue a total of 875,200 shares of Expedia, Inc. common stock over five years. trivago will continue to operate independently from its headquarters in Dusseldorf, Germany.
“Metasearch is an incredibly popular product because it enables consumers to find their ideal hotel at the lowest possible rate. The trivago team built one of the best hotel search user experiences and gained tremendous brand recognition in Europe. We are thrilled to officially welcome them to the Expedia, Inc. family,” said Dara Khosrowshahi , Expedia, Inc. President and Chief Executive Officer.
“Our focus remains on rapidly growing revenue as we expand globally,” said Rolf Schromgens, trivago co-founder and Managing Director. “The ability to leverage Expedia’s knowledge of and experience with global scale operations will be invaluable to profitably achieve this goal,” added Schromgens.
USA, Bellevue, WA & Germany, Dusseldorf
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