Expedia announces CarRentals.com acquisition

Internet Business News, March 14, 2008

INTERNET BUSINESS NEWS-(C)1995-2008 M2 COMMUNICATIONS LTD

The acquisition of CarRentals.com, an online car rental marketing and retail company, which provides a broad selection of car rentals direct to consumers, has been announced by online travel company Expedia Inc (Nasdaq:EXPE).

Expedia said CarRentals.com will continue to operate in its current form under the new agreement and will report directly as a business unit into Hotwire, Expedia's discount travel brand.

CarRentals.com is based in New Jersey, USA and offers advanced technologies to rental car partners and consumers. Expedia said it does not expect to make any material changes to CarRentals.com operations, its brand name or employee base and confirmed senior leadership will remain intact.

Expedia also stated that supply partners to CarRentals.com and Hotwire will continue with each brand, respectively, under existing working conditions. The acquisition is expected to take CarRentals.com into its next growth phase, while complementing the success of the Hotwire rental care offering and enabling Hotwire to offer further choice and value to consumers.

The terms of the agreement were not disclosed.

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