So, what's up with the Google-ITA Software merger talks a month after they came to light? Could another suitor be trying to steal away that sexy girl from Cambridge, Mass?
Admittedly, this is speculation, but I'm told it's conceivable and might be a factor in the elongated talks.
Could Microsoft, which owns ITA Software-powered Bing Travel, have inserted itself into the ITA Software sweepstakes?
An online travel agency such as Expedia or a global distribution system such as Sabre or Travelport GDS, which controls ITA Software-powered Orbitz, also are possible candidates.
Rumors are swirling about the delay, and the betting here is that a deal will ultimately get done.
Tnooz reported that the Google-ITA Software deal had been slated to close at the end of April, but got bogged down.
One theory is that Google has balked at the $1 billion to $1.2 billion price tag for ITA.
There is also talk that ITA's airline-hosting business, which lost its only announced client, Air Canada, last year, could also be complicating matters.
Would prospective airline clients want their internal reservations system hosted by Google? Perhaps ITA has a client in the pipeline which is balking at the prospect.
Or, maybe ITA could be trying to sell or spin off the reservations business in some way.
Another theory making the rounds is that Google, which is known to have considered buying Kayak a while back, is using the ITA talks to pressure Kayak, which is powered by ITA, to reduce its own hefty sale price.
I'm not buying that theory because I think ITA is a much deeper fit with Google's travel tech goals than is Kayak.
At any rate, what is indeed clear is that many of the major players -- GDSs, online travel agencies and metasearch companies -- are weighing their options in anticipation of a game-changing Google purchase of ITA Software.
And, perhaps one or more have tested the waters with their own bid for ITA.
Some people envision a Google-ITA deal triggering a crescendo of travel merger and acquisition activity in 2010.
Kayak would certainly be in play as various companies look to react to a Google-ITA combo.
Yesterday, we saw Travelport announce its acquisition of metasearch engine Sprice, and Priceline buy a controlling stake in car-rental player TravelJigsaw -- all pointing to the travel merger and acquisition market heating up in Europe.
Get ready for a bunch of such transactions in the U.S., as well, if ITA Software gets bought and the rest of the industry realigns.