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TD breaking news – Flight Centre targets US youth and student travel group

US$28 million acquisition of Boston-based Student Universe flagged. 

Flight Centre has just confirmed an offer to purchase Travelonomy Limited, the holding company of the US-based StudentUniverse.com group of companies.

FLT said the move would fast-track its growth in the youth and student travel sectors, with StudentUniverse having a strong technology platform which drives its online travel booking service offering specially negotiated student airfares, exclusive deals and experiences via its website and mobile apps.

“This represents a unique opportunity to secure a profitable travel technology company with proven e-commerce solutions and a highly experienced and talented leadership team that has built a strong brand presence,” said Flight Centre md Graham Turner.

He said StudentUniverse currently generates more than US$250m in annual TTV, with potential initiatives likely to see the product range expanded via Flight Centre’s broader range of youth orientated land and air products, increasing accommodation sales, cost savings and fast-tracking StudentUniverse’s growth in the UK.

Under the terms of the deal Flight Centre will pay US$28 million for 100% of StudentUniverse, along with additional milestone payments based on performance during 2016, with the offer subject to acceptance by the holders of at least 90% of Travelonomy’s shares.

More details in today’s issue of Travel Daily.


The above Breaking News Alert was sent to Travel Daily subscribers on 16 Dec 15

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