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Cheapflights has insisted it will be "business as usual" at the firm after the announcement that The Priceline Group is to buy its parent, Momondo Group, for $550 million.
The Priceline Group announced in the US last night that that it had signed a "definitive agreement" to acquire Momondo Group along with all outstanding shares of the company.
Momondo Group, which operates European travel meta search engine momondo, and flight comparison and deals publishing platform Cheapflights will "roll under" The Priceline Group’s travel meta brand, Kayak.
A spokesperson confirmed to TTG that there were no plans for the Cheapflights or momondo brand names to change and it was "very much business as usual".
The deal is expected to close later in the year, subject to regulatory approval. Headquartered in the UK and Copenhagen, with offices in Boston, Momondo Group, currently a portfolio company of Great Hill Partners, will report into Kayak chief executive Steve Hafner after the acquisition.
Momondo Group chief executive Hugo Burge, said: "The Priceline Group has a proven track record of operating successful, customer-centric travel brands all over the world.
"We couldn’t be more excited to join such an esteemed group of loved brands and join forces with Kayak to bring the best in meta search to our growing customer bases worldwide."
Glenn Fogel, chief executive of The Priceline Group, added: "Meta search is appealing to consumers and we’re keen to expand our global footprint.
"Momondo and Cheapflights will be nice additions to our meta portfolio under Kayak."
The Priceline Group operates in more than 225 countries and comprises the six primary brands, Booking.com, priceline.com, Kayak, agoda.com, Rentalcars.com, and OpenTable.
