Google acquired Frommer’s, a travel guide publisher from John Wiley and Sons for an undisclosed amount.
Frommer’s has assets like printed travel guide publication, a website with huge content and various mobile Apps related to traveling and tourism.
Founded by Arthur Frommer in 1950, Frommer’s is famous for its budget travel guides.
Frommer’s is a massive content addition to Google’s previous acquisition in publishing space (Restaurant Reviews) Zagat.
Google will use the Frommer’s massive content in its travel and hotels search offerings, and maps, along with Zagat.
By offering reviews of places and restaurants in the search, Google will also offer targeted Ads for its search engine users.
Wiley was looking for a buyer for Frommer’s since Mar 2012. This acquisition will be a threat to online travel guide like Kayak, which also uses contents from Frommer’s.
According to Press Release ( Yahoo Finance)
On August 10, 2012, Wiley entered into a definitive agreement to sell all of its travel assets, including all of its interests in the Frommer’s brand, to Google.
Proceeds from this sale, and others that may arise from the sale of other consumer assets, will be redeployed to support growth opportunities in Professional/Trade; Scientific, Technical, Medical, and Scholarly; and Global Education businesses.