Also ITA deals with incredibly complex problems and has very complex software, rewriting it in other languages would be a serious undertaking.
Unless they feel ITA's market position alone is worth that much cash, but I find that hard to believe.
edit: Bah wasn't in the same exact thread line but was mentioned, excuse the dumb on the grandparent/Great Grand Parent part.
Then again, not every Google project has Hal Abelson on the team. That might have something to do with it.
http://googleresearch.blogspot.com/2009/07/app-inventor-for-...
I imagine data persistence and distributed workloads are handled by the C++ portion of ITA code, which means plugging into GFS, BigTable, Chubby and more wouldn't be that difficult. ITA had already done the hard job of working around Common Lisp's missing pieces (a standard on concurrency and systems/network programming), something which would have been a huge distraction to e.g., Google in 2001 (when Ron Garrett attempted to evangelize Lisp).
Lastly, ITA isn't dependent on an acquisition by Google in the same way a start-up with no revenue (being acquired for talent and/or audience) would be. They're being bought partly for talent, but also they're being bought for actual technology and a working, profitable business. That gives them a lot more leverage in setting the terms of the acquisition (has e.g., Postini undergone a full re-write?). These issues is what "technical due diligence" is supposed to work out and resolve: would an integration necessarily mean driving the employees away? If this is so and such integration would have to occur, then the merger may simply not happen.
Even in the case of a pure talent acquisition care has to be taken to avoid an exodus. Money isn't going to the deciding factor here: I'd imagine ITA employees are less bound by golden handcuffs; they're not staring at life changing sums of money and (like most hackers) are more motivated by doing interesting work with smart peers and powerful tools, than by what is effectively a equivalent to a yearly bonus (I am assuming they're likely looking at $100,000-$200,000 in shares vesting over a four year period).
Why I think Google needs one? Because they don't have one, and considering their financial resources, they can afford it, and because ITA will pay for itself.
The conversation went something like this:
Me: I'd like to talk to you about something...
Him: Let me guess - you want to use Smalltalk.
Me: Er, no...
Him: Lisp?
Me: Right.
Him: No way.
And that was the end of Lisp at Google.