The Department of Justice has approved Google Inc.’s acquisition of flight information software company ITA Software Inc. In July 2010, Google said it would pay $700 million in cash for Cambridge, Mass.-based ITA. ITA’s investors include Battery Ventures, General Catalyst Partners, PAR Investment Partners, Sequoia Capital and Spectrum Equity Investors.
How cool would it be if you could type “flights to somewhere sunny for under $500 in May” into Google and get not just a set of links but also flight times, fares and a link to sites where you can actually buy tickets quickly and easily? Well that’s exactly why we announced our intention to buy ITA Software, a Cambridge, Mass.-based company that specializes in organizing airline data last July—and we’re excited that the U.S. Department of Justice today approved our acquisition.
It’s important to us that ITA continue with business as usual, providing great service to its business partners. We indicated last July that we would honor ITA’s existing contracts. Today we’ve formally committed to let ITA’s customers extend their contracts into 2016. We’ve also agreed to let both current and new customers license ITA’s QPX software on “fair, reasonable and non-discriminatory terms” into 2016—along with related commitments aimed at making ITA’s technology available to other travel sites.
We’re moving to close this acquisition as soon as possible, and then we’ll start the important work of bringing our teams and products together. We’re confident that by combining ITA’s expertise with Google’s technology we’ll be able to develop exciting new flight search tools for all our users. Up, up and away!