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: Chinese smartphone makers win as market swells

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

Chinese smartphone makers win as market swells

12 hours ago

Chinese smartphone makers racked up big gains as the global market for Internet-linked handsets grew to record levels in the second quarter, International Data Corp said Tuesday.

Full appeals court upholds labels on meat packages

12 hours ago

(AP)—A federal appeals court has upheld new government rules that require labels on packaged steaks, ribs and other cuts of meat to say where the animals were born, raised and slaughtered.

BlackBerry buys German anti-eavesdropping firm

13 hours ago

Canadian smartphone maker BlackBerry announced Tuesday the purchase of German voice and data encryption and anti-eavesdropping firm Secusmart, whose customers include NATO and German Chancellor Angela Merkel ...

India's Flipkart raises $1 bn to tackle Amazon

15 hours ago

India's top e-commerce company Flipkart said Tuesday it had raised $1 billion (60 billion rupees) in funds as it battles US giant Amazon for supremacy in the hyper-competitive local market.

User comments : 0