Expedia (EXPE) to Acquire Italy-based Venere Net ApA
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Expedia, Inc. (Nasdaq: EXPE) has entered into an agreement to acquire Italy-based Venere Net ApA from Advent International and the founding partners. Venere.com has established relationships with approximately 29,000 hotels and bed and breakfast properties throughout Europe and the U.S. The transaction will result in the addition of more than 10,000 incremental hotel properties in Europe, the Middle East and Africa to Expedia, Inc.'s global hotel offering.
Terms of the pending acquisition were not disclosed. Closing of the transaction is subject to competition approval in Germany.
Expedia, Inc. (Expedia) is an online travel company, empowering business and leisure travelers with the tools and information they need to research, plan, book and experience travel. [SM]
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