Financial details of the transaction have not been disclosed, but ProSiebenSat.1 claims the deal will value Sweden-based eTraveli in the region of Euro 235 million.
eTraveli’s previous owner was Segluah, a private equity company in the Nordic region.
The deal is the largest so far for ProSiebenSat.1 since it turned its attention to the travel sector and began buying a number of brands in Central Europe.
Weg and Ferien were purchased in December 2013.
eTraveli was formed in 2007 and now counts 12 different brands in its portfolio including Seat24, GoToGate, BudJet, Charter and GoLeif.
The company bought one of the forerunners of the independent online travel agency movement in Sweden, Travelstart (separate from the South African OTA of the same name), in January 2010.
ProSiebenSat.1 will place the eTraveli brands within its 7Travel division.
7Travel CEO, Jörg Trouvain, says:
“Etraveli is one of the best and most user-friendly online travel agencies for flights in Europe. It adds the flights segment to our 7Travel portfolio as a key element for further profitable growth.
“We’re supporting the market entry in Germany with TV backing and integrating the Etraveli flights package into the offerings of our other 7Travel companies with synergies to create a clear win-win situation.”
Other brands under 7Travel’s wing include Wetter, MyDays and Reise.
Read original article
