BELLEVUE, WA— Expedia has inked a definitive agreement to acquire substantially all of the assets of Newtrade Technologies, a Montreal-based developer of software and information distribution services designed to help hotels deliver their rates and availability to the market more efficiently. Terms of the deal were not disclosed. Expedia said Newtrade will provide technology to its merchant hotel partners to improve their quality of connectivity and give hotels flexibility and control over their information distribution and inventory management. Newtrade’s technology will automate many processes and ensure a single-source connection through which hotels can reach multiple points of distribution, including the major GDSs and partners like Expedia, making it easier for hotels to change their rates and availability as the market dictates, according to Expedia. Expedia said it plans to deploy Newtrade’s solutions for its merchant hotel partners in early 2003. Newtrade employs approximately 60 employees and will continue to operate in Montreal. The deal is expected to close in October.
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