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Published on : Thursday, August 3, 2017
The Australian based Webjet plans to acquire UK –headquartered JacTravel to expand and become number two player globally.Webjet is one of the world’s largest business to business provider for £200 million.
JacTravel under its banner has JacTravel and totalstay.com, both of which will now become part of the WebBeds business.
JacTravel mentioned that Webjet had entered into an agreement to acquire JacTravel from Vitruvian Partners and its management team will retain a shareholding in the enlarged group.
The total annual total transacted volume of Webjet with the acquisition of JacTravel will be more than £600 million.
The company’s global footprint will increases with the presence of offices in 19 countries.
JacTravel will join Sunhotels, Lots of Hotels and FIT Ruum’s in the company’s B2B division WebBeds.
Over the last three years the partnership with Vitruvian has been invaluable and has enabled JacTravel to achieve a step-change in its scale, technology and geographical reach mentioned Terry Williamson, chief executive of JacTravel.
The acquisition will help in the global expansion that will enable wider reach to the hotel partners offering more choice and value to the customers.
John Guscic, managing director of Webjet said that WebBeds has leveraged their clients to succeed and enabled their partners to respond to fast-changing market trends.
The consolidation will help in driving greater synergies that will benefit a wider travel industry. The integration of the businesses will fetch best possible outcomes to both the partners and the clients.