Looking to extend its reach with folks who book travel reservations online, Expedia is snatching up the competition with a quickness. Today, the web-based travel agency announced that it's purchasing Orbitz for around $1.6 billion, so the most popular option in the US for searching flights, hotels and more on the web gains the business of the third-ranked site. The sale also includes CheapTickets, ebookers and Hotel Club in addition to a couple of B2B brands. "This acquisition will allow us to deliver best-in-class experiences to an even wider set of travelers all over the world," said Expedia's president and CEO Dara Khosrowshahi. Expedia just nabbed Travelocity last month for $280 million, and it already owned Hotels.com and Hotwire -- all popular destinations for globe-trotting bargain hunters.

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