Online search engine giant, Google recently acquired John Wiley & Sons Inc.'s travel assets, including Frommer's, which is one of the best-selling guidebooks in the world. This new acquisition adds to Google's food and tourism portfolio.
Zagat, a restaurant-review guide was bought by Google last fall. Google is hoping, according to its spokeswoman, Katelin Todhunter-Gerberg, with combined assets of Frommer's and Zagat to become a complete source for food and travel reviews.
The deal was closed for an undisclosed sum and the terms were not disclosed either.
"The Frommer's team and the quality and scope of their content will be a great addition to the Zagat team," Google said. "We can't wait to start working with them on our goal to provide a review for every relevant place in the world."
This deal will pave way for Google to acquire 350 travel guides and the Frommers.com travel-planning website.
New Jersey-based John Wiley & Sons Inc. said they're planning to sell their publishing assets, which have been in print since 1957. The publications may go the online route.
Review sites like Yelp and TripAdvisor are growing in popularity and Google wants to attract users and advertisers from these sites. The California-based company has been adding information on hotels and restaurants around the world and is looking to make inroads into the travel sector.
Google has shown that it's ready to invest in travel which is a important category for it, said Sameet Sinha, analyst at B. Riley & Co.
"The new mantra is, 'We want you to stay on Google and make this your destination, not just your gateway. They need their own content for that," he said. "They would become like an Expedia or Priceline."
"The Frommer's team and the quality and scope of their content will be a great addition to the Zagat team. We can't wait to start working with them on our goal to provide a review for every relevant place in the world," said Google in a statement.
There was a rise of 2.81 percent in Google's shares on Monday.
