 |
Breaking
eBusiness and Search News |
|
 |
Lastminute.com Gets A Ticket To Ride
US-based Sabre Holdings, the operators of Travelocity.com, purchase the British-based travel company for over $1 billion USD.
The British discount travel agency Lastminute.com represented the British arm of the dot-com era. But the subsequent bust left the company without a leg to stand on, prompting its sale to the American company.
Boards for the respective companies agreed on an all-cash deal. Though the British company says it remains open to a counter-offer, the Travelocity package will likely be the winner.
A European subsidiary of Sabre Holdings, Travelocity Europe, will complete the acquisition for the parent company.
Lastminute.com rode the dot-com boom to astonishing heights in the British markets, before the party ended and the company became worth mere pennies on the dollar. But the company did have enough value to motivate the Sabre purchase.
"We're extremely pleased with the prospect of having Lastminute.com, with its highly-regarded brand and well-established customer base, as a part of our Travelocity division," Sabre Holdings chairman Sam Gilliland said in a statement.
Receive
Our Daily Email of Breaking eBusiness News
About the Author:
David Utter is a staff writer for WebProNews covering technology and business. Email him here.
 WebProNews RSS Feed
More Articles
Contact WebProNews |
|
|
 eBUSINESS
RESOURCES |
|
|
 |
|
| About
WebProNews |
WebProNews is the number
one source for eBusiness News. Over 5 million eBusiness professionals read
WebProNews and other iEntry business and tech publications.
WebProNews provides real-time coverage of internet
business.
Free Email Newsletters:
|
|
|
|
David Utter
