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: Japan's NTT to buy German data centre operator

add to favorites email to friend print save as pdf

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

Japan's NTT to buy German data centre operator

9 hours ago

Japanese telecom giant NTT Communications is looking to acquire German data centre operator e-shelter, as it seeks to cash in on growing demand in Europe, a newspaper reported Saturday.

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

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.