Priceline’s Momondo Acquisition Improves Position Versus Trivago; Shares Slightly Undervalued
We see Priceline’s acquisition of Momondo, a metasearch platform, as a good use of capital for several reasons. First, it will strengthen the company’s presence in Europe and Africa, where Priceline’s existing meta platform, Kayak, is not as strong as Trivago (Expedia owned). Second, we believe Priceline will be able to accelerate Momondo’s growth using its market-leading technology and marketing expertise. Third, we think the $550 million all cash deal is a good price, as we estimate Momondo di...
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