The leading online travel agency group in the Nordic region, European Travel Interactive (eTRAVELi) is expanding its operations through the purchase of the price comparison website Flygresor.se. Through the acquisition, the Group is stepping into a new submarket and further bolstering eTRAVELi’s position in the market.
eTRAVELi is continuing to grow by acquiring Svenska Resenätverket AB, which includes the price comparison website Flygresor.se. eTRAVELi is, through the acquisition, continuing down its Nordic expansion path.
“Flygresor.se is a strong brand and offers an excellent service today. Where eTRAVELi is concerned, the takeover represents a step into a new market segment, and with us as its owners, Flygresor.se will enjoy further expansion opportunities”, says Ralph Axelson, CEO of eTRAVELi.
The range of travel products on offer in the market is on the rise, and hence the need to quickly and simply find the right trip at the right price. This makes price comparison websites a natural first port of call in the process for many travelers. eTRAVELi therefore sees major growth potential for Flygresor.se, which complements the Company’s established online offering.
“Travel is on the rise and increasingly people are searching for travel on price comparison websites. For us, this represents a natural step in strengthening our online offering”,continues Ralph Axelson.
Since it was founded in 2006, Svenska Resenätverket AB has enjoyed tremendous success, becoming the leader in travel price comparison in Sweden.
“We’re delighted to become a part of eTRAVELi, which is the leading online travel agency group in the Nordic region. It will be an exciting period for the Company, enabling us to further develop”, comments Olov Lindberg, CEO of Svenska Resenätverket AB.
Svenska Resenätverket AB is a stable company with strong, profitable growth and will be run as a separate company with its own management and board.
European Travel Interactive AB (eTRAVELi) is an online travel agent offering airline tickets, hotel reservations and other travel-related services through multiple brands. In 2012, eTRAVELi had gross sales of SEK 6.6 billion (€ 760 million). eTRAVELi represents the brands Seat24, Supersaver/Supersavertravel, Gotogate, Flybillet, Flygvaruhuset, Travelstart, Travelpartner, Budjet and Travelfinder. eTRAVELi operates in seven countries (Norway, Sweden, Denmark, Finland, Germany, Russia and the Netherlands).
About Svenska Resenätverket AB
Svenska Resenätverket AB runs and develops websites, mainly focusing on travel-related goods and services. The Flygresor.se brand is Sweden’s largest price comparison site for airline tickets. Since 2012, Flyreiser.no has been in place in Norway and Flyrejser.dk in Denmark.
For further information visit www.segulah.com or contact:
Percy Calissendorff, Partner, Segulah Advisor AB
Tel: +46 8 402 87 00, Cell: + 46 733 47 62 81
Ralph Axelson, CEO European Travel Interactive AB
Tel.: +46 70 869 29 14