(PCLN) Buys KAYAK Software (KYAK) for $40/Share

November 8, 2012 4:03 PM EST
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KAYAK Software Corporation (Nasdaq: KYAK) announced financial results for the third quarter ended September 30, 2012. The company also announced that it signed a definitive agreement to be acquired by Incorporated (Nasdaq: PCLN) for $40 per share in cash and stock.

The board of directors of both companies approved the transaction, which is subject to KAYAK shareholder approval, customary closing conditions and regulatory approval. Until the transaction is closed, both companies will continue to operate independently.

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