Orbitz to Go Public, Again

May 11, 2007

Travelport Ltd. announced Thursday that it plans to take its Orbitz travel subsidiary public in an offering valued at $750 million.

The offering will take place during the third quarter, Travelport said.

This is the second IPO for Orbitz; in 2003, the company was jointly owned by five different airlines. In the intervening years, the site was sold to Cendant and from there to The Blackstone Group of New York, Technology Crossover Ventures of Palo Alto, Calif., and One Equity Partners of New York, which own the company.

Interestingly, Orbitz will not receive any proceeds from the sale, Travelport said.

Orbitz recorded 2006 net revenue of $752 million, losing $146 million.

Copyright 2007 by Ziff Davis Media, Distributed by United Press International

Explore further: Capgemini to buy IGATE in $4 billion US expansion push

Related Stories

NY AG calls Internet discount clubs 'deceptive'

Jan 27, 2010

(AP) -- New York's attorney general warned Internet retailers Wednesday that they should stop funneling unsuspecting customers into "deceptive" Web discount clubs that have been accused of slamming people with hidden fees.

Recommended for you

Capgemini to buy IGATE in $4 billion US expansion push

2 hours ago

French IT services and consulting company Capgemini said Monday it was buying New Jersey-based IGATE for $4 billion (3.7 billion euros), boosting its US-generated business to 30 percent of its total activity.

How smart are the mobile shoppers who use smartphones?

Apr 24, 2015

In the age of the smart phone, how smart are the mobile shoppers who use these almost ubiquitous devices? A study from South Korea published in the International Journal of Mobile Communications hopes to answer that questi ...

India's Infosys gives muted earnings, stock falls

Apr 24, 2015

Indian software giant Infosys Technologies saw its shares dip nearly seven percent Friday after it reported a single digit rise in yearly revenues and also missed quarterly profit estimates.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.