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Google to acquire flight search company ITA Software for $700 million

Google has agreed to acquire ITA Software for $700 million. ITA Software is a US-based flight information software company that allows users to search for flight schedules, air fares and flight availability from multiple airlines. According to Google, the deal will allow the company to create new flight search tools that would encourage more users to make their flight purchases online.

Google has agreed to acquire ITA Software for $700 million. ITA Software is a US-based flight information software company that allows users to search for flight schedules, air fares and flight availability from multiple airlines. According to Google, the deal will allow the company to create new flight search tools that would encourage more users to make their flight purchases online.

“ITA’s very talented team has created an impressive product to organize flight information,” Eric Schmidt, chairman and CEO, Google, has said. “Their technology opens exciting possibilities for us to create new ways for users to more easily find flight information online, and we are 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,” Jeremy Wertheimer, CEO and president, ITA Software, has said. “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 Software has developed QPX software tool that is used for organizing flight information by both airlines and online travel agencies worldwide including American Airlines, Bing, Continental Airlines, Hotwire, Kayak, Orbitz, Southwest Airlines, TripAdvisor, United Airlines, US Airways and Virgin Atlantic Airways.

Google has said it will honour all existing agreements signed between ITA Software and its partners and looks forward to adding new partners. According to Google, the company will not be setting airfare prices and has no plans to sell airline tickets to consumers. Google has further said that because it doesn’t currently compete against ITA, the deal will not change existing market shares.

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