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July 24, 2008 10:43:32 PM CDT



Kayak Buys Rival SideStep for $200M

Posted Dec 21, 07 9:43 AM CST in Business Technology 

(Newser) – Discount travel search engine Kayak has acquired competitor SideStep for $200 million. Kayak raised nine figures in a new round of financing from its own investors, new VC companies, and SideStep's backers. It then bought SideStep for $180 million in cash plus a redistributed $20 million of SideStep's capital, reports TechCrunch.

Kayak, which aggregates results from multiple travel search engines, leads the market for discount travel searches, reportedly turning over $50 million in yearly revenue. Kayak's cofounder said in a statement he was grateful the Connecticut-based company was moving into Silicon Valley, adding, "As a native Bostonian, I am also personally gratified to finally see an East Coast technology firm purchase a West Coast counterpart."

Source TechCrunch

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