I published a rumour in September that TravelClick was on the cusp of being sold to a PE firm. Received confirmation today that a division of Genstar Capital has committed to buy the travel intelligence and marketing firm for around US$275mm. Deal closure to happen in about two weeks. You heard it here first at the BOOT - TravelClick has been sold to Genstar.
If you can - please Digg this story here.
Deal confirmed publicly on 20 Dec 2007
wooow that a lot of loot for not a lot of anything :() the insider .....
ReplyDeleteHi Tim,
ReplyDeleteWell I have heard about the rumour as well 3 weeks ago but I couldn't confirm it with which buyer. $275M is quite incredible to be honest. I have never thought the company would be worth this much. You?
Guillaume
Hotel Blogs
I wish I knew more about their bottom line numbers and growth rates to have a view on the $275 price tag. Anyone out there know?
ReplyDeleteYia yia we believe they are profiting $22m. and they are loosing agreements with galileo and sabre exclusively for the data, hence their push into other parallel sides.
ReplyDelete13/14 times earnings is not cheap but at the same time it is not expensive (see the valuation of Wotif for a comparison). The test is how sustainable the $22mm will be. Especially if they are about to lose a key asset (exclusive data access).
ReplyDeletewotif has branding to public and as well as turnover like the hotels.de and the hrs.com.
ReplyDelete?They have no such things