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By Eric Volkman – May 21, 2013 at 3:35PM

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The two travel sites fuse together, as planned.

It's a May wedding for two prominent operators in the online travel space. (BKNG 2.26%) is now the owner of Kayak (NASDAQ: KYAK), which will function as an independent brand within the parent firm. paid roughly $522.4 million in cash and 1.5 million-plus shares of stock for the ticketing site, in addition to the assumption of outstanding Kayak stock options.

Executives from both companies professed delight at the merger. In the press release announcing the development, quoted Kayak CEO and co-founder Steve Hafner as saying that "we believe that The Priceline Group's expertise and worldwide reach will help us expand our business globally."

The acquisition was first announced at the end of last year.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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