NORWALK, USA, 26 November 2021: Booking Holdings Inc has entered into an agreement with funds managed by CVC Capital Partners to acquire global flight booking provider Etraveli Group for approximately EUR1.63 billion.
Etraveli Group is already a partner of Booking.com, helping power its existing flight product.
“As international air travel rebounds from the impact of the pandemic, we look forward to building upon our existing relationship with Etraveli Group to make the travel booking experience easier and more seamless to support our partners and customers,” said Booking Holdings’ Chief Executive Officer, Glenn Fogel.
“Booking Holdings pioneered the travel space more than two decades ago and they continue to pave the path forward by developing solutions to create seamless travel experiences,” said Etraveli Group’s Chief Executive Officer, Mathias Hedlund.
“We are thrilled to become a part of Booking Holdings, and we look forward to the next chapter of our own development as we continue to enhance the flight booking experience for our customers and partners worldwide.”
Etraveli Group will remain headquartered in Sweden and operate as an independent business under Booking Holdings, led by their current management team.
Booking Holdings (NASDAQ: BKNG) is a leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through six primary consumer-facing brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable.
Etraveli Group was founded in 2000 and is a global technology provider for flight content delivered through flexible tech solutions through its own consumer brands like Gotogate, Mytrip, Flightnetwork. It also supplies flight content through global partnerships with Google Flights, Skyscanner, Kayak and Booking.com. The Group also operates the airline integration company TripStack. The company has nearly 1000 employees, and its headquarters are located in Sweden, with offices also in Athens, Toronto and several cities in India.
CVC Capital Partners is a leading private equity and investment advisory firm with a network of 25 offices throughout Europe, Asia and the US, with approximately USD125 billion of assets under management.