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Online travel agency Expedia to buy rival Orbitz for $1.33 billion

(Reuters) - Online travel agency Expedia Inc said it would buy rival Orbitz Worldwide for about $1.33 billion, as it looks to increase its customers base in a highly competitive industry.

EXPEDIA (EXPE.NQ)s offer of $12.00 per share in cash represents a premium of 24.7 percent to Orbitz's Wednesday close.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Savio D'Souza)

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