Expedia announced today that it will pay $86.3 million in cash to increase its stake by 25 percent in a joint venture with AirAsia Berhad.
As a result, Expedia will now have a 75 percent stake in AAE Travel Pte. Ltd., a venture the companies formed in 2011. The transaction will close in the first half of this year.
Expedia has been on a buying spree as of late. The Bellevue-based company announced its $1.6 billion acquisition of Orbitz Worldwide Online last week, which came a month after the company acquired Travelocity for $280 million.
Expedia missed earnings expectations with its fourth quarter financial results earlier this month, but its stock rebounded after the Orbitz acquisition announcement.
