ebookers.com has announced the all-share acquisition of MrJet, one of Scandinavia`s leading online travel companies and ebookers.com`s closest competitor in the area.
The acquisition is in line with ebookers.com`s stated strategy to build on its strong European position and will make it the leading online travel agency in the Scandinavian region.
ebookers.com aims to leverage economies of scale resulting from the acquisition, and build on customer and buyer relationships in order to further its progress towards cash flow breakeven in Q4 2001 or Q1 2002.
MrJet, headquartered in Sweden will be merged with ebookers.com online Swedish subsidiary, under the management of Henrik Kjellberg, MrJet`s CEO. MrJet sells mainly flights, and also other travel products, to customers in Norway, Finland, and Denmark as well as Sweden. ebookers.com already has subsidiaries in each of these countries, which will manage MrJet`s operations.
MrJet had gross sales of approximately $10m (?11.27) in 2000. Over the past 12 months MrJet has consistently been among the top 4 online travel sites in Sweden according to MMXI unique visitors figures.