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Priceline to buy rival travel site

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NEW YORK, Nov 8 AFP

November 09 2012, 08:37AM

Priceline has agreed to buy rival travel website Kayak in a stock-and-cash deal worth $US1.8 billion ($A1.74 billion), the companies said on Thursday.

Priceline Group president and chief executive Jeffery Boyd said Kayak "has world class technology and a tradition of innovation".

Boyd added that Priceline could "be helpful with Kayak's plans to build a global online travel brand".