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Microsoft acquires Seattle-based travel search firm

Microsoft acquires Seattle-based travel search firm
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First Published: Fri, Apr 18 2008. 11 39 AM IST
Updated: Fri, Apr 18 2008. 11 39 AM IST
AP
Seattle: Microsoft Corp. has acquired travel search startup Farecast Inc. for an undisclosed amount.
Seattle-based Farecast tries to predict whether air fares will rise or fall, helping travelers decide when to buy plane tickets for upcoming trips. Farecast’s site also has a section that searches for hotel room rates, then tells Web surfers whether the price is a good deal, or no deal at all.
In a precursor to the buyout, the companies signed a deal that made some of Farecast’s technology available on Microsoft’s own MSN travel site.
The acquisition, first reported by the Seattle Post-Intelligencer, closed April 9. Microsoft spokeswoman Whitney Burk said Farecast’s workers will become Microsoft employees, but would not give further details about how the startup and its technology will fit into Microsoft’s existing organization.
Farecast, formerly known as Hamlet Inc., has raised more than $20 million (euro12.6 million) in venture capital since 2004 from investors including Sutter Hill Ventures, Greylock Partners and Madrona Venture Group.
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First Published: Fri, Apr 18 2008. 11 39 AM IST
More Topics: US | Microsoft | Farecast | Travel | Bill Gates |