Expedia, the parent company to some of the world’s largest travel sites, is buying short-term rental site HomeAway for $3.9 billion, a move that further solidifies its spot at the center of online travel.
Expedia Buys HomeAway, an Airbnb Competitor, for $3.9 Billion
It’s the travel site’s largest acquisition.
Mike Coppola / Getty Images
The deal, announced today and agreed upon by both companies’ boards, is expected to close in the first quarter of next year. Expedia paid $38.31 for each share of the Austin, Texas-based HomeAway, marking the largest-ever acquisition for the travel site.
This article originally appeared on Recode.net.
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