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Microsoft acquires Farecast for $115 million

Microsoft has acquired US-based airfare prediction and travel site Farecast for around $115 million. Following the acquisition, Microsoft plans to “work closely with the Farecast team to incorporate and apply its technology in new and interesting ways.”

Microsoft has acquired US-based airfare prediction and travel site Farecast for around $115 million. Following the acquisition, Microsoft plans to “work closely with the Farecast team to incorporate and apply its technology in new and interesting ways.”

Farecast was founded in 2003 by Oren Etzioni, a computer science professor at University of Washington. The online service, launched in 2006, uses data-mining technology to predict whether the price of specific air-travel itineraries will rise or fall, and whether a currently listed hotel-room rate is a good deal. [Source: Seattle Times]

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