According to Google , "almost half of all airline tickets are sold online," so the sultan of search went and acquired flight information software company ITA Software, Inc. for a cool $700 million in cash.
"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."
Google plans to capitalize on the acquisition by creating new flight search tools designed to streamline the process of finding and sifting through flight information for would-be travelers. The deal, which was approved by both companies, will eventually make Google a direct competitor to Travelocity, Expedia, Orbitz, and other online flight search engines.