Check-in.com owner to become majority owner of BYOJet.
Disruptive Investments, the listed firm which acquired Check-in.com.au last year, has announced a merger with BYOJet to create a “major online travel agency”.
BYOJet founder Lenny Padowitz will become a major shareholder in the public company, which is forecasting TTV for the current financial year of approximately $87 million.
Under the acquisition, Disruptive will acquire up to 54.69% of BYOJet owner Professional Performance Systems Pty Ltd, which also owns the JETMAX proprietary white label technology platform.
BYOJet, which is a Helloworld affiliate member, is in the top ten most visited Australian OTA websites, and the merger will leverage Check-in’s direct relationships with more than 2250 hotels.
“This transaction represents an excellent and logical fit, creating a new major Australian online travel agency group,” said Disruptive Investments chairman Adir Schiffman.
Padowitz said the deal significantly strengthens the travel proposition of the two businesses.
“The merging of our assets, as well as the additional investment by DVI, makes it possible for us to continue our strong growth in providing travel solutions for individual travellers and travel companies,” he said.
More information in today’s Travel Daily.