Google Deal for ITA Moving Forward
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Google's (NASDAQ:GOOG) $700 million deal to acquire ITA may have just passed a major hurdle.
Google has reached a settlement with the U.S. Department of Justice (DOJ) on terms for how the deal can go forward.
Among the terms of the settlement, Google commits to continuing to develop ITA's flight search and booking technology and to make it available at reasonable licensing rates to competitors.
"Google will also be required to further develop and offer ITA's next generation InstaSearch product to travel websites, which will provide near instantaneous results to certain types of flexible airfare search queries," the DOJ's statement said.