Expedia has acquired Travelocity for $280 million

It was almost two decades ago that Travelocity became the first company in the world to use the Internet to help people book their flights and has since risen to become one of the oldest and most recognizable Internet companies in North America. Now the company has been acquired by fellow Internet travel company, Expedia, for around $280 million in cash.

Expedia has purchased Travelocity from Sabre Corp. for $280 million in cash, the companies announced on Friday. “Travelocity is one of the most recognized travel brands in North America, offering thousands of travel destinations to more than 20 million travelers per month,” said Dara Khosrowshahi, Expedia, Inc. President and CEO, said in a statement provided to the SEC. “The strategic marketing agreement we’ve had in place has been a marriage of Travelocity’s strong brand with our best-in-class booking platform, supply base, and customer service. Evolving this relationship strengthens the Expedia Inc. family’s ability to continue to innovate and deliver the very best travel experiences to the widest set of travelers, all over the world.”