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France,United Kingdom : EXPEDIA INC. inks definitive agreement to acquire AUTO ESCAPE GROUP

June 30, 2014

Expedia, Inc. has inked a definitive agreement to acquire Auto Escape Group, one of Europe's leading online car rental reservation companies from private equity fund Montefiore Investment and certain members of the AutoEscape Group's management team.

Followed by the completion of the transaction, Auto Escape Group will be a part of the brand and report into Henrik Kjellberg, President of the Hotwire Group. More details of the deal were not revealed.

Henrik Kjellberg, President of the Hotwire Group said, We are excited to expand our brand internationally so that we can provide our customers more choices across the globe and help our supply partners expand their marketing reach.

Pending receipt of regulatory approval, closure of the deal is expected during the third quarter of 2014.

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Source: TendersInfo (India)

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