Press for ITA Software

ITA Software, Inc., a leading provider of innovative solutions for the travel industry, today announced the launch of its airfare shopping mobile app, OnTheFly™, for the Apple iPhone® and iPod touch®. Airlines and travel distributors can license and integrate OnTheFly into their branded mobile products and booking platforms to take advantage of this new sales and service channel. Travelers can also download the shopping-only version for free from the App Store to search for optimal fares and itineraries.

Google is in the process of acquiring ITA Software, an airfare information provider that brings the company into the realm of vertical travel search. It also creates potentially awkward competition with ITA customers like Kayak and Bing. But travel isn’t the only thing ITA does; a few years ago, a research division of the company started a build-your-own-database tool for web data. Needlebase, as it’s known, is a nifty way to give structure to disorganized and constantly changing information on any topic.

Google Inc. signed a definitive agreement to acquire ITA Software Inc., the company that revolutionized air fare shopping, for $700 million in cash. The deal requires regulatory approval.

On a telephone call with analysts and reporters, Google chief executive Eric Schmidt said airline travel and search represent a “perfect opportunity for more innovation, more investment and more interesting products.”

-ITA Software, Inc., a flight information software company, and Google Inc. (NASDAQ: GOOG) today announced that they have signed a definitive agreement for Google to acquire ITA for $700 million in cash, subject to adjustments.

“ITA’s very talented team has created an impressive product to organize flight information”

“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.”