Travelocity is acquiring complete ownership of ZUJI in a bid to further strengthen its global presence and positions it for additional growth in the Asia-Pacific region
ZUJI includes operations in Australia, Hong Kong, Korea, New Zealand, Singapore and Taiwan.
The transaction was completed on Jan. 24, 2006 in Singapore for approximately US$34 million.
Michelle Peluso, Travelocity President and CEO, commented: “This acquisition, coupled with our acquisitions in Europe last year, demonstrates how we are continuing to expand the Travelocity network globally.”
ZUJI’s CEO Scott Blume said that this acquisition highlighted ZUJI’s potential for growth and its unique position as a leader and innovator in online travel in the Asia-Pacific region. He also said that the change in ownership would not adversely impact the day-to-day operations of ZUJI teams, Web sites, nor its supplier relationships or customer bookings.
“We look forward to taking advantage of the technology and innovation Travelocity will provide ZUJI as we work to offer customers even more travel choices, greater value, and some clever packaging features when they book on ZUJI,” Blume said.
Travelocity has worked closely with ZUJI since ZUJI’s launch in 2002, both as an investor and as a technology provider.
“Travelocity’s relationship with ZUJI has given us a deep understanding of the business, the people, the challenges and the opportunities for online travel in the Asia-Pacific region,” Peluso said. “It also means there already are many existing synergies between our businesses, which bodes well for a smooth integration.”