Etraveli and e-Travel join forces
Etraveli, the global flight-centric and data-driven online travel platform, today announced that it will join forces with e-Travel. The newly-combined company will help achieve Etraveli’s goal of becoming Europe’s leading online travel company. Etraveli was acquired by CVC Capital Partners’ Fund VI in August 2017.
Both Etraveli and e-Travel have seen rapid growth and expansion to a variety of markets in recent years. Their geographical footprints have little overlap and make this transaction highly complementary.
Etraveli, based in Uppsala, Sweden, is a global e-commerce platform for flight tickets combining a leading position in the Nordics with a fast-growing international business. Etraveli conducts a majority of its business in Western Europe and the Nordics. e-Travel, based in Athens, Greece, has a similar set-up, but a more robust position in Eastern Europe and a growing presence in the Middle East and Asia Pacific region.
The combined company is expected to have a pro-forma TTV of c. €3bn by year-end 2017.
Mathias Hedlund, CEO of Etraveli, said: “Our focus will be on even more growth and expansion. I am delighted that we have found a like-minded partner in e-Travel that shares our vision and has complementary strengths that will help take our business to the next level.” Mathias Hedlund also will become the CEO of the new joint entity.
Nikos Goulis, CEO of e-Travel, said: “At e-Travel, we feel that together with Etraveli we are now perfectly positioned to become Europe’s leading flight-centric e‑commerce platform, which has always been our goal.” Nikos Goulis will continue in his role.
Lorne Somerville, Partner and Head of TMT at CVC, commented: “We are delighted to support Etraveli in its ambition to grow to become a leading international e-commerce platform with a wide geographic footprint and strong data-driven business model. We welcome e-Travel into the CVC family.”
The transaction signed and closed today.
MORE INFORMATION:
Mathias Hedlund, CEO Etraveli
+46 (0) 706 66 37 58,
mathias.hedlund@etraveli.com
Claes Tellman, Communications Manager
+46 (0) 703 99 62 81
claes.tellman@etraveli.com
About Etraveli Group
Etraveli Group is a leading global flight technology provider, specializing in flight sales and offering flight content delivery and fintech products. We partner with major global platforms such as Booking.com, Google Flights, Skyscanner, and Kayak, providing seamless flight booking and related services. Our B2B portfolio includes Precision, our specialist in travel fintech; Tripstack, our B2B Flights as a Service Provider and world leader in virtual interlining, serving as the gateway to Etraveli Group’s flight content and fulfillment services; Wenrix, the AI Infrastructure for profitable growth in air; and Flygresor.se, Sweden’s leading flight comparison site. We also operate our own online travel agency brands including Gotogate, Mytrip, and Flightnetwork. Headquartered in Stockholm, Sweden, we have over 3,200 dedicated employees and more than 2,300 outsourced staff, across 11 offices worldwide, including Athens, Gothenburg, Krakow, London, Montevideo, Mumbai, Pune, Tel Aviv, Toronto, and Uppsala. We serve more than 48 million travellers annually across 75 markets and are owned by the private equity firms CVC Capital Partners and KKR.
We are here to solve the complexity by connecting millions of flights and travelers across the world.