Cendant Completes OctopusTravel.com Acquisition

4th Apr 2005

Cendant Corporation has completed the acquisition Gullivers Travel Associates and Octopus Travel.Ê “Our acquisition of Gullivers positions Cendant as a leading global travel intermediary,” said Samuel L. Katz, chairman and CEO of Cendant’s Travel Distribution Services Division.Ê “Over time, we expect the acquisition to provide considerable cross-selling opportunities in our customer channels and facilitate our growth strategies in China and Japan.”

This move follows the recently anounced acquisition of European online travel provider, ebookers plc, for approximately £190 million (approximately $350 million), net of cash acquired.


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