If you’re in the market for a couple travel websites, travel agent Orbitz Worldwide Inc, the company that runs Orbitz.com and Cheaptickets.com, could be looking for a buyer to hook up with, according to a new report.
Bloomberg News says the company is exploring a sale, citing people with inside knowledge about the situation.
The company hired a financial adviser to test the waters with buyers who might be interested in taking on the Chicag-based company, including private-equity funds and other Internet companies. No specific buyers or companies have been named so far.
It’s a good time for Orbitz to peddle itself, as airlines are flying record numbers of people right now with fuel prices at six-year low. Bloomberg analyst estimates show Orbtiz could bring in a revenue of $992 million this year, partly due to those big flying numbers.
Though it’s been a public company since July 2007, Orbitz has had private-equity owners before, when it was part of Travelport Ltd., a company bought by Blackstone Group in 2006.
Orbitz Is Exploring a Sale, Drawing Buyout Interest [Bloomberg]
by Mary Beth Quirk via Consumerist
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