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02 July 2010 ,
Written by Dhruv Tanwar
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On its official blog, Google said almost half of all airline tickets sold today are sold online, though finding the right flight at the best price is a frustrating experience for many – pricing and availability change constantly, and even a simple two city itinerary involves literally thousands of different options. It said that to make this search easier, it has inked the agreement to acquire Boston based ITA, a company specializing in organizing airline data, including flight times, availability and prices.
 ITA and Google togther said that they have signed a definitive agreement for the latter to acquire the former for $700 million in cash, subject to adjustments.
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, Google said on its investor page. ITA's innovative algorithms and deep airline industry expertise create a customizable flight data organization tool used by both airlines and online travel agencies.
Google said the deal will allow it to pursue the creation of new flight search tools that will enable users to find better flight information more easily on the Internet, and is excited about ITA's QPX business and the opportunity to work closely with current and future customers. Google said it would honor all existing agreements and looks forward to adding new partners. Both companies have approved the transaction, which is subject to customary closing conditions.
Following the completion of the acquisition, Google said it would work to create new flight search tools that will make it easier to search for flights, compare flight options and prices and get you quickly to a site where you can buy your ticket. |