NORWALK, Conn. – Internet travel retailer Priceline.com Inc. on Friday said it agreed to create a new travel booking service for online auction site eBay Inc.'s Travel unit.
The service, designed to boost eBay's travel services, will include airline, hotel, car, cruises, timeshares and vacation packages, and will allow eBay users to book reservations in an auction style or a "buy it now" format, Priceline.com said.
Financial terms of the deal were not disclosed.
Priceline.com, the name-your-own-price company that sells air fare and hotel reservations online, will be responsible for the technology, development, transaction processing infrastructure and support of the booking service.
EBay said 42 percent of its users booked online travel in the last year, representing $8.4 billion in gross merchandise sales. The company has 42 million users worldwide.