Sabre Corp. Sells Lastminute.com to Bravofly Rumbo Group
Sabre Corporation and Bravofly Rumbo Group have announced that Bravofly Rumbo Group has completed the acquisition of lastminute.com, following its binding offer for the business in December 2014 and fulfillment of the employee information and consultation process.
With this transaction Bravofly Rumbo Group acquires all of lastminute.com’s global operations located in the UK, France, Germany, Spain and Italy, establishing a leading position in all major European countries. Together with lastminute.com, Bravofly Rumbo Group’s 2014 pro-forma Gross Travel Value reached approximately €2.5 billion, with revenues of nearly €260 million, leveraging its excellent business fit and well balanced geographical distribution. The transaction has no material effect on Bravofly Rumbo Group’s net cash position.
The decision to sell lastminute.com supports Sabre’s strategy to increase its focus and investment on its core businesses - Travel Network and Airline and Hospitality Solutions - which collectively serve airlines, hotels, travel agencies and travel suppliers globally. Sabre remains a key provider of services to the global consumer online travel sector, handling over a third of the world’s travel agency transactions.
For Bravofly Rumbo Group, the acquisition fulfils its mission to be a Smart Travel Provider, simplifying the life of travellers and accelerating the growth of its global footprint and its portfolio of solutions.
Bravofly Rumbo Group will communicate further details of its long-term integration roadmap and respective Group targets in its FY2014 earnings data, scheduled for release on March 26th 2015.
With this transaction Bravofly Rumbo Group acquires all of lastminute.com’s global operations located in the UK, France, Germany, Spain and Italy, establishing a leading position in all major European countries. Together with lastminute.com, Bravofly Rumbo Group’s 2014 pro-forma Gross Travel Value reached approximately €2.5 billion, with revenues of nearly €260 million, leveraging its excellent business fit and well balanced geographical distribution. The transaction has no material effect on Bravofly Rumbo Group’s net cash position.
The decision to sell lastminute.com supports Sabre’s strategy to increase its focus and investment on its core businesses - Travel Network and Airline and Hospitality Solutions - which collectively serve airlines, hotels, travel agencies and travel suppliers globally. Sabre remains a key provider of services to the global consumer online travel sector, handling over a third of the world’s travel agency transactions.
For Bravofly Rumbo Group, the acquisition fulfils its mission to be a Smart Travel Provider, simplifying the life of travellers and accelerating the growth of its global footprint and its portfolio of solutions.
Bravofly Rumbo Group will communicate further details of its long-term integration roadmap and respective Group targets in its FY2014 earnings data, scheduled for release on March 26th 2015.