Benzinga | Nov 12, 2021 11:20AM EST

Booking Holdings To Acquire Getaroom For ~$1.2B

* Booking Holdings Inc (NASDAQ:BKNG) has agreed to acquire B2B distributor of hotel rooms, Getaroom, from Court Square Capital Partners for about $1.2 billion.

* Following the deal closing, U.S.-based Getaroom will roll into Booking Holdings' Priceline brand to form a new Strategic Partnerships business unit to improve B2B distribution for hotel partners.

* Getaroom will remain headquartered in Dallas, and current CEO Matt Davis will lead Priceline's new Strategic Partnerships business unit.

* "By combining the technology and expertise of Getaroom and Priceline, we can further streamline distribution for our hotel partners and provide new and better solutions for the U.S. accommodations segment," said Priceline CEO Brett Keller.

* The company held $12.1 billion in cash and equivalents as of September 30, 2021.

* Price Action: BKNG shares are trading higher by 0.01% at $2479.18 on the last check Friday.