Booking Holdings Inc announced that it has successfully completed its previously announced plan to acquire Getaroom from Court Square Capital Partners.

Getaroom is a B2B distributor of hotel rooms, and will roll into Booking Holdings' Priceline brand to form a new Strategic Partnerships business unit with the Priceline Partner Network.

"By combining the technology and expertise of Getaroom and Priceline, we believe we can increase value for both hotel and affiliate partners," said Brett Keller, Chief Executive Officer of Priceline. "We are thrilled to welcome Getaroom to the Priceline family, and look forward to learning from each other to best support our partners."

Getaroom, acquired for approximately $1.2 billion, will remain headquartered in Dallas and current Chief Executive Officer, Matt Davis, will lead Priceline's new Strategic Partnerships business unit.