Expedia to buy Orbitz for $1.3B

Expedia Inc. agreed to buy Orbitz Worldwide Inc. for about $1.3 billion, further consolidating the online travel industry.

The deal gives Orbitz shareholders $12 a share in cash, a 25 percent premium over the stock's Wednesday close, according to the Wall Street Journal.

Expedia has recently been in acquisition mode, closing a $612 million deal for Australia’s Wotif Holdings Ltd. in November and a recent $280 million agreement to purchase Sabre Corp. ’s Travelocity brand.

Read more from the Wall Street Journal.