New York--IAC/InterActiveCorp announced Monday that it has agreed to acquire discount travel Web site Hotwire.com. IAC will pay $665 million in cash and assume about $20 million of options and warrants. The transaction is expected to close in the fourth quarter. IAC also announced Monday the formation of IAC Travel, a division of the company that will include Expedia.com, Expedia Corporate Travel, Expediaâs international brands, Hotels.com, Hotwire and other IAC travel properties. Erick Blachford, president-CEO of Expedia, will lead IAC Travel as president-CEO.