Changing how travel is booked online may be one result of Google’s acquisition of ITA Software, Inc., a flight information software company. Google Inc. said they agreed to acquire ITA for $700 million in cash.
The deal will allow Google to pursue the creation of new flight search tools that will enable users to find better flight information more easily on the Internet. Google said is excited about ITA's QPX business and the opportunity to work closely with current and future customers. Google said will honor all existing agreements and looks forward to adding new partners.
ITA's QPX software tool for organizing flight information is used by leading airlines and travel distributors worldwide including Alaska Airlines, American Airlines, Bing, Continental Airlines, Hotwire, Kayak, Orbitz, Southwest Airlines, TripAdvisor, United Airlines, US Airways, Virgin Atlantic Airways and others.
"ITA's very talented team has created an impressive product to organize flight information," said Eric Schmidt, chairman and CEO of Google. "Their technology opens exciting possibilities for us to create new ways for users to more easily find flight information online, and we're looking forward to welcoming them to Google."
"It is a privilege to work with a most skilled and dedicated team to build innovative technologies that people use every day," said Jeremy Wertheimer, CEO & President, ITA Software, Inc. "We are all looking forward to continuing and expanding our efforts as part of Google."
Founded in 1996 by a team of MIT computer scientists, ITA's technically advanced solutions for organizing flight information were hailed as a catalyst for change in the online travel industry. Its innovative algorithms and deep airline industry expertise create a customizable flight data organization tool used by both airlines and online travel agencies.