Expedia Buys HomeAway, an Airbnb Competitor, for $3.9 Billion

Expedia, the parent company to some of the world’s largest travel sites, is buying short-term rental site HomeAway for $3.9 billion, a move that further solidifies its spot at the center of online travel.

The deal, announced today and agreed upon by both companies’ boards, is expected to close in the first quarter of next year. Expedia paid $38.31 for each share of the Austin, Texas-based HomeAway, marking the largest-ever acquisition for the travel site.

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This article originally appeared on Recode.net.

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