TripAdvisor acquires CruiseWise, third deal since March
There is no question that technology is evolving at an increasingly fast pace, and businesses across all industries are working hard to remain current while keeping ahead of the competition. With the internet having a more centralized position at many companies, technology acquisitions are made to benefit both firms and their respective customers.
Such is the case with TripAdvisor, an online travel company, as it made its third acquisition since March with its purchase of CruiseWise, Inc. The latter business is an online cruise booking agency.
TripAdvisor CEO Steve Kaufer said in a statement that with the cruise industry growing more everyday, his company wanted to strengthen its Cruise Critic business, and acquiring CruiseWise helped accomplish that.
"By integrating key elements of CruiseWise and the in-depth knowledge behind it, we will enhance our ability to help travelers find their perfect cruise at a price that suits them," he said.
The Wall Street Journal explained that the online travel business has grown immensely over the last several years, and that TripAdvisor is not the only company of its kind to try and increase its offerings to customers. For example, Priceline purchased the leading travel metasearch company, Kayak Software, Corp., for $1.8 million this past winter.
Businesses that are looking toward a technology merger or acquisition would be wise to consider the needs of their customers when searching for an applicable opportunity. M&A activity does not need to consist of one large company taking over another. Rather, it is a chance for two firms to work together to increase their industry stake, while still providing quality products or services to their customers.