Orbitz Worldwide Acquires Travelocity Partner Network Assets; Terms Undisclosed
Orbitz Worldwide (NYSE: OWW) announced today that it has acquired certain assets and contracts of the Travelocity Partner Network which provides private label travel technology solutions for bank loyalty programs and online commerce sites. The operations of the Travelocity Partner Network will be integrated into the Orbitz Partner Network.
"The acquisition of Travelocity Partner Network assets will accelerate our growth in the private label space and expand the range of customized solutions we are able to offer to customers, in particular in the loyalty area," said Ronnie Gurion, president of Orbitz Partner Network. "We look forward to welcoming the customers and employees of the Travelocity Partner Network to Orbitz Worldwide."
Orbitz Partner Network (www.orbitz.com/OPN) is a leader in the delivery of private label travel technology solutions to a broad range of partners including some of the world`s largest travel agencies and airlines. Orbitz Partner Network provides a suite of customized products, including air, hotel and car rental booking, loyalty program fulfillment, dynamic packaging and mobile solutions.
"We are extremely pleased to announce this agreement with the Orbitz Partner Network," said Yannis Karmis, president of the Travelocity Partner Network. "We are confident Orbitz will continue to provide the strong level of service that has been a centerpiece of the TPN offering. At the same time, we expect our customers to benefit from Orbitz investments in technology and hotel distribution."
Terms of the transaction were not disclosed. The company said it does not expect a material impact on Adjusted EBITDA in 2014.
About Orbitz Worldwide
Orbitz Worldwide (NYSE: OWW) is a leading global online travel company using technology to transform the way consumers around the world plan and purchase travel. Orbitz Worldwide operates the consumer travel planning sites Orbitz (www.orbitz.com), ebookers (www.ebookers.com), HotelClub (www.hotelclub.com) and CheapTickets (www.cheaptickets.com). Also within the Orbitz Worldwide family, Orbitz Partner Network (www.orbitz.com/OPN) delivers private label travel technology solutions to a broad range of partners including some of the world`s largest airlines and travel agencies, and Orbitz for Business (www.orbitzforbusiness.com) delivers managed travel solutions for companies of all sizes. Orbitz Worldwide makes investor relations information available at investors.orbitz.com.
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