The CEO of Seatte-based travel startup Farecast Hugh Crean has briefly confirmed on the company’s blog that the company has been acquired by Microsoft. Farecast works to predict whether (and when) airfares on particular routes might rise or fall, helping travelers get a handle on when they might best purchase tickets.
A deal had been rumored for over a week, but the name of the buyer was not disclosed. Neither Microsoft nor Farecast have revealed the financial details of the transaction, but the Seattle P-I reports Microsoft is paying in the area of $115 million.
Farecast was apparently being pursued by multiple bidders, but Microsoft was apparently able to offer the best package and promised for how to move Farecast’s services forward. The two companies have previously partnered for services in Microsoft’s MSN Travel site.
The Farecast acquisition follows the merger of Kayak.com and SideStep, the latter of which is generally regarded as a leading company in so-called “next generation” travel meta-search services.
