Expedia agreed to acquire Australia's Wotif Group in a transaction valued at A$703 million (US$658 million).

In addition to numerous consumer travel sites operating in the Asia/Pacific region, Expedia would take ownership of the Arnold Travel Technology corporate booking platform, whose corporate clients in Australia and New Zealand include BP, Coca-Cola, eBay, Ikea and Mercedes-Benz, according to the firm's website. Wotif's technology also powers Corporate Travel Management of Australia's booking tool, U-Book. Representatives from Expedia's corporate travel division Egencia did not reply to requests to comment on potential synergies. Expedia agreed to pay A$3.30 per share (US$3.09) to acquire Wotif, "based on July 4, 2014 exchange rates," according to the company. Pending regulatory and shareholder approvals, the transaction is expected to close in the fourth quarter. Wotif brands include Wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct, LateStays.com and GoDo.com.au.