Consolidation time – eTraveli travel group bought by media company ProSiebenSat1
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.
eTraveli was formed in 2007 and now counts 12 different brands in its portfolio including Seat24, GoToGate, BudJet, Charter and GoLeif.
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.
Kevin is senior editor and a co-founder at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and publishes his first book - a biography about Depeche Mode - in late-2016.