LOS ANGELES — Online travel agency Expedia announced Thursday that it is buying competitor Orbitz for about $12 a share, or about $1.3 billion.
The all-cash deal would bring further consolidation to the online travel-booking industry. In January, Expedia bought another competitor, Travelocity, for $280 million.
The deal still needs shareholder and regulatory approval.
Executives said Thursday they were confident the deal would pass regulatory muster.
Orbitz employs about 800 people in Chicago. The deal comes with CheapTickets, ebookers and HotelClub. Expedia already Hotwire and Hotels.com.
