TelMe Sold To Friezenburg Beheer BV.

14th Dec 2001

Technology group TelMe has sold its travel business to Dutch company

Online services for the group are made up of its internet and travel technology business, with its turnover coming from the sale of its software and fares data to agents, and the sale of travel through the TelMe Global Traveller service.

TelMe will now concentrate on its CRM business and purse acquisitions. The company said that the sale occurred because the synergies between the travel and technology sides of the business did not materialise as planned. Sales for the online division rose by 4% in the six months ending 30 September 2001, while operating losses reduced from GBP 0.7 million to GBP 0.4 million on the same period last year. The travel interests of TelMe consist of Seaforths, a business travel agent, and TelMe Online, including, travel software and a travel data business. Friezenberg owns Ayscough Limited, but will continue to run and the other travel companies, which employ 204 people and operate from Aberdeen, Great Yarmouth, Bracknell, Chester and London.

TelMe purchased Seaforths in July 1998 for GBP 4.9 million. At the time of the purchase, Friezenberg held 44.6% of the shares of Seaforths.





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