First Internets First Acquisition

First Internet Travel, Inc. now has the rights, thanks to an Asset Purchase Agreement, to Onlinerooms.com`s customer list and their 14 established websites and 106 URL`s, including LasVegasRooms.com and OrlandoRooms.com.
Onlinerooms.com`s assets include a successful hotel reservations system, which was developed over a period of two years at a cost of $1.3 million in compensation paid to programmers and web developers. Onlinerooms.com is the hotel reservations system and wholesale contract consolidator division of iTravel Partners, Inc.
A spokesman for First Internet Travel, Inc. said the asset purchase of Onlinerooms.com was a strategic move and would be the first of many future acquisitions for First Internet Travel, Inc. With the purchase of Onlinerooms.com, First Internet Travel, Inc. and its online hotel reservation system, www.1800USAHotels.com, are poised to gain an even larger share of the Internet hotel reservation market.
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