The Swedish online travel agency Etraveli Group has announced they have acquired the Canadian based air tech company TripStack and the online travel agency Flight Network.
Etraveli Group, which is a flight centric online travel agency and was acquired by CVC Capital Partners for more than €500 million in 2017 and subsequently acquired e-Travel, has acquired both the air tech company TripStack and the online travel agency Flight Network.
With the acquisitions, the Group is now “extending its airline integration capabilities and becoming a truly global company with sales and operations across the world”.
Etraveli Group operates with multiple brands in more than 50 markets globally with strong positions in the Nordics, UK, France and Germany but also a noteworthy presence in Southern Europe, Australia and specific markets in Asia and the Middle East.
The most recent acquisitions give the group a significant position in North America as well.
Mathias Hedlund, CEO of Etraveli Group said, “Through this deal, Etraveli Group will vastly increase airline integration capabilities through TripStack and thereby be able to further broaden the offer of flights and itineraries available. With TripStack’s air content technology, we will not only strengthen our own OTA brands but also open up to offer our solutions to other marketplaces and travel providers seeking to have competitive air content.”
“The deal will also speed up the Group’s growing presence in North America, a market where we lately have seen our offerings and skill sets win market shares. Coupled with Flight Network abilities we believe we can rapidly increase our presence in this market”.
Etraveli Group also announced the hiring of Pia Vemmelund, former Managing Director of Kayak EMEA and Momondo. She will join to run TripStack together with the co-founder Naman Budhdeo.
“We have a long outstanding business relationship with Pia and are delighted to have her expertise and personality to contribute to the group,” says Hedlund.