Cendant Corp. has acquired Trip Network Inc. from an independent business trust. Trip Network is the fourth-largest online travel agent, lagging only Expedia, Travelocity and Orbitz. The acquisition’s cost was not disclosed.
Trip Network will become part of Cendant’s Travel Distribution Services Division. Cendant will position its Cheap Tickets operations to supplant Trip.com, which it began operating in October 2001 through an agreement with Galileo International, Trip.com’s former owner.
"Cheap Tickets is the stronger consumer brand," said Sam E. Galeotos, president and chief executive officer of Galileo International and Cendant Travel Distribution Services in a statement. "We believe we will be far more successful in putting Cendant's resources behind our new Cheap Tickets Web site considering the investment needed to elevate Trip.com to Cheap Tickets' brand recognition and performance level."
The acquisition of Trip Network adds 170 employees to the New York-based marketer’s payroll, primarily through Trip Network’s technology and product development operations, which are based in Denver.
