Mergers and Acquistions News
Categories: Software
April 12th 2011, 14:21PM
A $700 million (£429.6 million) deal between search engine giant Google and online travel company ITA Software has been approved by the American Justice Secretary, despite concerns over competition.
The acquisition deal, which will allow Google to break into the travel search market, is part of the company's efforts to stay on top of the game online, and compete with companies such as Facebook, which have seen great popularity in the mobile market, Reuters reports.
However this sale has sparked fears that other travel companies, such as TripAdvisor and Kayak, could be deprived of services provided by ITA Software.
Conditions have been imposed on the takeover, following concerns that Google was manipulating search engine results to favour its own products and services, the news provider said. It has been hinted that an investigation is in the pipeline, although no agency has yet been assigned to the task.
Google has undertaken dozens of acquisitions in the past year. BeatThatQuote and Zynamics were the most recent additions to the Google family in March.
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