Google on Thursday announced a definitive agreement to acquire a software company whose platform organizes flight information for the online travel industry. The search giant will pick up ITA Software for $700 million in an all-cash deal.
ITA was founded in 1996 by a team of MIT computer scientists. The company has developed algorithms that underpin a customizable flight-data 
organization tool that airlines and online travel agencies, including American Airlines, Continental Airlines, Hotwire and Orbitz, use to power their reservations.
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