U.S. District Court Judge Robert Wilkins clears the acquisition, saying that the deal has safeguards in place to protect third parties.
The company announced an IPO in November but faces fresh competition from Google's potential acquisition of rival ITA. Now, a source reports, a quarter of the company may have been laid off in a cost-cutting effort.
Despite being met with significant opposition in the travel search industry from companies that claimed buying ITA would give Google unfair power, the $700 million acquisition has cleared.
Justice Department will require Google to continue to license travel tech to competitors as part of its settlement. What's more, Google must forward rivals' complaints to regulators.
Google is said to be nearing agreement with Justice Dept. over its intended $700 million purchase of the travel software company. The deal's been under regulatory scrutiny since announced in July.
It's been nearly six months since Google first proposed acquiring travel software company ITA, and regulators will soon decide whether to block the deal.
Microsoft has joined the fray as part of a coalition that's trying to put a stop towards Google's acquisition of travel giant ITA Software.
DOJ is determining whether Google's acquisition of the online travel firm will unfairly hurt competition and drive people to Google's travel services instead of third-party sites.
The $700 million deal gives Google a widely used source of information about the travel industry and will likely prompt howls of outrage from Google's competitors.
The search giant is experiencing a delay in acquiring ITA, which provides software for plane fare comparison sites such as Orbitz.