GO
Loading...

Priceline’s Plan: Paddle Kayak Overseas

Friday, 9 Nov 2012 | 1:15 PM ET
Scott Eells | Bloomberg | Getty Images

Priceline.com's $1.8 billion acquisition of Kayak Software may be its last for a while, Jeffery Boyd, Priceline.com CEO, told CNBC's "Squawk on the Street" on Friday.

"We typically have been an acquisitive company," the online travel site CEO said. "We want to try to make sure the ones we do get them right. We're going to be focused in the near-term on getting the Kayak deal closed and making sure we're successful with it."

Boyd sees an opportunity once the acquisition closes to help build Kayak's business overseas given Priceline's significant international presence.

Buying Kayak will also give Priceline access to great technology, particularly in mobile, Boyd said. (Read More: Priceline to Buy Kayak for $40 Per Share)

Looking at the overall business, Priceline is starting to see stabilization in Europe and solid growth in the U.S.

Priceline Snaps Up Kayak For $1.8 Billion
Jeffery Boyd, CEO, Priceline.com, discusses the details of the cash and stock deal, and the growing competition among online travel sites.

"Most of the Priceline group's business is international," Boyd said. "If you look at our third-quarter results, you saw pretty good gross bookings growth coming from our European business. So we've seen stabilization there."

Boyd said this trend is consistent with what typically happens as the holidays approach and prices on flights and hotel rooms start to rise. "It makes great sense for people to shop and book their tickets early," he said.

Boyd also noted that the data coming out of the airline and hotel industries, hotel indicates business "looks pretty solid generally in the U.S."

  Name Price   Change %Change Volume
EXPE
---
OWW
---
TRIP
---

Featured

Contact Technology

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.