Press for General Catalyst
Sunday's Globe column focused on Rue La La, one of the most successful e-commerce companies to come out of Boston since... well, ever? The company was acquired last year for a sum that could hit $350 million if the company meets certain milestones, and it'll hire more than 100 people in Boston this year.
Google Inc. signed a definitive agreement to acquire ITA Software Inc., the company that revolutionized air fare shopping, for $700 million in cash. The deal requires regulatory approval.
On a telephone call with analysts and reporters, Google chief executive Eric Schmidt said airline travel and search represent a “perfect opportunity for more innovation, more investment and more interesting products.”
-ITA Software, Inc., a flight information software company, and Google Inc. (NASDAQ: GOOG) today announced that they have signed a definitive agreement for Google to acquire ITA for $700 million in cash, subject to adjustments.
“ITA’s very talented team has created an impressive product to organize flight information”
“ITA’s very talented team has created an impressive product to organize flight information,” said Eric Schmidt, Chairman and CEO of Google. “Their technology opens exciting possibilities for us to create new ways for users to more easily find flight information online, and we’re looking forward to welcoming them to Google.”