Add-on Acquisition • Internet Software and Services

Cendant Acquires CheapTickets

On August 13, 2001, Cendant acquired internet software and services company CheapTickets for 425M USD

Acquisition Context
  • This is Cendant’s 1st transaction in the Internet Software and Services sector.
  • This is Cendant’s 4th largest (disclosed) transaction.
  • This is Cendant’s 3rd transaction in the United States.
  • This is Cendant’s 1st transaction in Hawaii.

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M&A Deal Summary

Date August 13, 2001
Target CheapTickets
Sector Internet Software and Services
Buyer(s) Cendant
Deal Type Add-on Acquisition
Deal Value 425M USD

Target Company

CheapTickets

Honolulu, Hawaii, United States
Cheap Tickets sells airline tickets is an online retailer of discounted airfares. The company buys non-published air fares through contracts with some 40 air carriers and sells them at a discount to the public.
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Buyer Overview 1

Buyer

Cendant

New York, New York, United States

Category Company
Founded 1998
Sector Consumer Services
DESCRIPTION

Cendant Corp. was a collection of business and consumer services companies. Cendant was formed in 1998 between the merger of Hospitality Franchise Systems and CUC International.


Deal Context for Buyer #
Overall 4 of 8
Sector: Internet Software and Services 1 of 3
Type: Add-on Acquisition 4 of 8
State: Hawaii 1 of 1
Country: United States 3 of 5
Year: 2001 2 of 2
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-06-19 Galileo International

Parsippany, New Jersey,

Galileo is a provider of travel information and transaction processing solutions for the travel industry.

Buy $2.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-05-01 National Car Parks

London, United Kingdom

National Car Parks has contracts with 31 of the UK's local or regional government authorities, and manages over 900 car parks including car parks at 10 of the principal UK airports and 57 railway and London Underground stations. National Car Parks was founded in 1931 and is based in London, United Kingdom.

Sell €1.2B