TripAdvisor Inc. (TRIP - Free Report) , an online travel research company, announced its acquisition of GateGuru, a flight and airport information mobile app for an undisclosed sum.
New York-based GateGuru is a company that started its journey in 2009. It provides information about airport layouts and related amenities. The app includes weather updates, security wait times, and real-time flight status information.
The acquisition will complement TripAdvisor’s existing flight product portfolio by providing flight information and other related details on mobile. The enhancement to its offering will help flyers to gather real time information on flight status, weather and other airport data, which will improve efficiency, thereby increasing profits.
TripAdvisor has an aggressive merger and acquisition strategy. In March this year, the company acquired a mobile and social startup, TinyPost, followed by JetSetter and then CruiseWise in May. The company’s acquisitions have helped it to develop a desired portfolio, enhance its product line, boost its top line and position itself in markets with better growth prospects.
TripAdvisor continues to witness robust top-line growth in every quarter. The company delivered a decent first quarter, with both earnings and revenues above the prior-year figures, helped by a stronger travel market all over the world. Revenues were $229.9 million, up 25.1% year over year driven by improvement in all its product lines. TripAdvisor has also made a number of acquisitions in recent months, which are helping it to build a strong product portfolio and position itself in markets with better growth prospects.
Currently, TripAdvisor has a Zacks Rank #3 (Hold). Other stocks that have been performing well and are worth considering include Angie's List, Inc. (ANGI - Free Report) , SAP AG (SAP - Free Report) and Tucows (TCX - Free Report) , all carrying a Zacks Rank #1 (Strong Buy).