IAC/InterActiveCorp To Acquire Hotwire

IAC/InterActiveCorp will acquire Hotwire.com, a discount travel Web site, for $665 million in cash and assumption of $20 million in options and warrants. Hotwire will remain a separate band within IAC after the acquisition, which is expected to close during the fourth quarter.

IAC/Interactive, New York, was formerly USA Interactive. The company