Major Acquisition for Lastminute.com

Lastminute.com is buying Travelselect.com in a deal worth up to å£12 million, comprising new shares in Lastminute worth å£9 million and up to å£3 million according to the financial performance of the acquisition.
Travelselect.com
provides online access to Eurostar, and also sells about 200,000 flight tickets annually with sales generated both online and off-line, with a significant shift towards online sales over the past year.


Travelselect.com has negotiated fares with some 85 major airlines around the world including British Airways, Virgin Atlantic, Lufthansa, KLM and Air France and is now profitable.


Vimal Khosla
, majority shareholder and chief executive of Travelselect, will join the lastminute board as an executive director.

 

www.lastminute.com

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