Travelocity acquires full ownership of ZUJI
In a move that further strengthens its global presence and positions it for additional growth in the Asia-Pacific region, Travelocity has acquired complete ownership of ZUJI, the leading online travel company in the Asia-Pacific region. ZUJI includes operations in Australia, Hong Kong, Korea, New Zealand, Singapore and Taiwan.
Travelocity purchased the remaining shares in ZUJI from Abacus International Pte. Ltd. and AGC Holdings Ltd., a consortium of 15 airlines in the region, giving Travelocity ownership of 100% of ZUJI. The purchase price was approximately US$34 million.
“It is a natural progression for Travelocity to take full ownership of ZUJI and the purchase positions us nicely for future growth in the fast-growing Asia-Pacific region and Scott Blume and his team have done a great job building a premier online travel brand and we are excited to have them fully in the Travelocity family,” said Michelle Peluso, Travelocity President and CEO. “This acquisition, coupled with our acquisitions in Europe last year, demonstrates how we are continuing to expand the Travelocity network globally.”
Travelocity has worked closely with ZUJI since ZUJI’s launch in 2002, both as an investor and as a technology provider.
With 100% ownership in ZUJI secured, Travelocity is now plans to:
* Further enhance the online travel experience for customers in the Asia-Pacific region by delivering to ZUJI’s more than one million members the best of Travelocity’s and Sabre Holdings’ travel and technology expertise;
* Offer even greater opportunities for suppliers to reach customers worldwide;
* Leverage ZUJI’s relationships to the advantage of consumers by offering more and better content and deals, and to the advantage of partners and suppliers via seamless technology integration and increased scale;
* Accelerate ZUJI’s B2B (Travel Partner Network) capabilities and scope, therefore providing unique opportunities for travel suppliers and other key commercial partners to expand into, within and/or beyond the Asia-Pacific region;
* Enhance ZUJI’s growth by capturing all of the benefits of Travelocity’s industry-leading capabilities, including dynamic packaging, its advanced net rate hotel program and revolutionary site;
* Expand ZUJI/Travelocity’s presence into China and India.
David
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