This story was written by Robert Andrews.
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Expedia has acquired a majority stake in India's top online hotels aggregator TravelGuru for $17 million. The deal values TravelGuru and Desiya.com (which was acquired by the former in December last year) at about $30 million, which, according to industry sources, is a modest valuation. Expedia, which recently launched its India operations, has also retained the option to buy more of TravelGuru in the future, according to sources. The deal is believed to have been signed a few days ago. Full story at contentSutra.com
By Robert Andrews