Straight off the back of its recently completed Magellan purchase, Helloworld Travel has made another major acquisition, which will boost sales in-store and online.
The travel group has agreed to buy out Flight Systems Pty Ltd., the provider of web-based flight booking technologies and the operator of skiddoo.com.au.
Helloworld Travel will use its existing cash reserves to purchase Flight Systems Pty Ltd., but expects to generate over $80 million in TTV from the company during the 2018 financial year.
While Flight Systems Pty Ltd. may specialise is online booking technology, the acquisition will benefit traditional Agents by allowing consultants to offer their clients 24/7 bookability via their own branded portals.
On the other hand, it will give Helloworld Travel’s customers more flexibility by providing them with travel services online along with the wide range of services from a retail Agent.
Helloworld Travel’s Chief Executive, Andrew Burnes, describing the purchase as a “low risk and low-cost entry” into distribution technologies, which will be incorporated into the group’s ResWorld agency platform.
“Flight Systems is an established business with proven technologies and takes us significantly forward in the expansion of our system capabilities across the business.”
Andrew Burnes, Helloworld Travel Chief Executive
Subject to certain pre-conditions, the acquisition will be for 100 percent of the business and is likely to be complete by the end of this month.
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