Tuesday, July 15, 2008

Expedia Agrees to Acquire Italian Travel Site

Online travel-booking agency Expedia Inc. announced Tuesday that it has agreed to acquire Italy-based Venere Net ApA from its founding partners and Advent International. Venere Net operates Venere.com, a travel-oriented Web site that offers Europeans lodging reservations at some 29,000 hotels and bed-and-breakfasts properties throughout the world. Financial terms of the transaction, which is subject to competition approval in Germany, were not disclosed. Expedia said the transaction will add more than 10,000 hotel properties in Europe, the Middle East and Africa to Expedia.com's international lodging roster. Expedia Inc. is headquartered in Bellevue.