7 November – Etraveli, the global flight-centric and data-driven online travel platform, today announced that it will join forces with e-Travel. The newly-combined company will help achieve Etraveli’s goal of becoming Europe’s leading online travel company. Etraveli was acquired by CVC Capital Partners’ Fund VI in August 2017.
Both Etraveli and e-Travel have seen rapid growth and expansion to a variety of markets in recent years. Their geographical footprints have little overlap and make this transaction highly complementary.
Etraveli, based in Uppsala, Sweden, is a global e-commerce platform for flight tickets combining a leading position in the Nordics with a fast-growing international business. Etraveli conducts a majority of its business in Western Europe and the Nordics. e-Travel, based in Athens, Greece, has a similar set-up, but a more robust position in Eastern Europe and a growing presence in the Middle East and Asia Pacific region.
The combined company is expected to have a pro-forma TTV of c. €3bn by year-end 2017.
Mathias Hedlund, CEO of Etraveli, said: “Our focus will be on even more growth and expansion. I am delighted that we have found a like-minded partner in e-Travel that shares our vision and has complementary strengths that will help take our business to the next level.” Mathias Hedlund also will become the CEO of the new joint entity.
Nikos Goulis, CEO of e-Travel, said: “At e-Travel, we feel that together with Etraveli we are now perfectly positioned to become Europe’s leading flight-centric e‑commerce platform, which has always been our goal.” Nikos Goulis will continue in his role.
Lorne Somerville, Partner and Head of TMT at CVC, commented: “We are delighted to support Etraveli in its ambition to grow to become a leading international e-commerce platform with a wide geographic footprint and strong data-driven business model. We welcome e-Travel into the CVC family.”
The transaction signed and closed today.
Mathias Hedlund, CEO Etraveli
+46 (0) 706 66 37 58,
Claes Tellman, Communications Manager
+46 (0) 703 99 62 81
Founded in the year 2000, Etraveli Group was one of the first companies to offer online booking of flight tickets. In those days, we sent them out by regular mail. Today that would be very difficult as we now have almost 12 million customers per year. We are the leading online travel agency in the Nordic countries, the fastest growing in Europe and our presence across the web spans 50 countries. We constantly find new solutions to bring travelers together, and make the world smaller.