Expedia buying Orbitz for about $1.33 billion

February 12, 2015 at 9:42a.m.

BELLEVUE, Wash. (AP) — Expedia is buying rival online travel site Orbitz for approximately $1.33 billion to extend its reach in the travel-booking industry.

It's Expedia's second major deal in the past month as the industry consolidates. Expedia announced the $280 million acquisition of another rival, Travelocity, in late January.

Orbitz owns CheapTickets, HotelClub. Expedia owns Hotels.com and Hotwire.

Expedia, based in Bellevue, Washington, will pay $12 per share, a 25 percent premium to the Orbitz' closing price of $9.62 Wednesday.

The boards of both companies have approved the deal, but it still requires a nod from Orbitz shareholders.

Orbitz had said in January that it was considering selling itself.