Booking Holdings Inc. (NASDAQ: BKNG) today announced that it has entered into an agreement with funds managed by CVC Capital Partners (“ HVAC ”) To acquire the global flight reservation provider, Etraveli Group, for approximately € 1.63 billion. Completion of the acquisition is subject to certain closing conditions, including regulatory approval.
Already a partner of Booking.com – helping fuel its existing flight product – the acquisition of Etraveli Group will complement Booking Holdings’ ongoing work to create a frictionless global flight offering to fulfill the Company’s global mission to make it easier for everyone to discover the world.
As international air travel rebounds from the impact of the pandemic, we look forward to strengthening our existing relationship with the Etraveli Group to make the travel booking experience easier and more transparent to support our partners and customers., said the managing director of Booking Holdings. , Glenn Fogel.
Booking Holdings pioneered the travel space over two decades ago and continues to lead the way in developing solutions to create seamless travel experiences., said Mathias Hedlund, CEO of Etraveli Group.
We had a fantastic time with our current owner CVC, establishing Etraveli Group as a global provider of attractive flight options at affordable prices. Today is a day of recognition, as well as a new phase in our relentless desire to improve further. We are thrilled to be a part of Booking Holdings, and look forward to the next chapter in our own development as we continue to improve the flight booking experience for our customers and partners around the world.
Mathias and his team have built a premier platform for selling flights. Joining the Booking Holdings family is a logical step in Etraveli’s journey. We wish them all the best and a safe trip ! said Lorne Somerville, President of Etraveli Group and Managing Partner of CVC.
Etraveli Group will retain its headquarters in Sweden and operate as an independent company under Booking Holdings, led by its current management team.
About Booking Holdings
Booking Holdings (NASDAQ: BKNG) is the world’s leading provider of online travel and related services, delivered to consumers and local partners in more than 220 countries and territories through six major consumer brands: Booking.com, Priceline, Agoda, Rentalcars. com, KAYAK and OpenTable. Booking Holdings’ mission is to make it easier for everyone to discover the world.
About the Etraveli group
The Etraveli Group was founded in 2000 and is a global provider of flight technology focused on delivering the best possible flight content, delivered through flexible technology solutions, to the consumer and any business facing the consumer. Through our own consumer brands such as Gotogate, Mytrip, Flightnetwork and through our global partnerships with Google Flights, Skyscanner, Kayak, Booking.com and others, we provide search, booking and fulfillment services. theft and related products. The Group also operates the airline integration company TripStack. The company has nearly 1000 employees and its head office is located in Sweden with offices also in Athens, Toronto and several cities in India.
About CVC Capital Partners
CVC is a leading private equity and investment advisory firm with a network of 25 offices in Europe, Asia and the United States, with approximately $ 125 billion in assets under management. Since its inception in 1981, CVC has secured commitments of over US $ 165 billion from some of the world’s leading institutional investors as part of its private equity and lending strategies. The funds managed or advised by CVC are invested in more than 100 companies around the world, which have annual sales of more than 100 billion US dollars and employ more than 450,000 people.
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Booking Holdings signs an agreement with CVC Capital Partners for the acquisition of the Etraveli group – TendanceHotellerie