Acquisition expected to boost HLO TTV by more than $80 million.
Helloworld has just announced an agreement for the purchase of Flight Systems Pty Ltd, described as “a provider of web-based flight booking technologies and operator of the skiddoo.com.au website”.
Flight Systems is headed up by Mirza Juddani, who said the company’s underlying technologies “will significantly enhance the distribution of travel products through Helloworld Travel’s multiple retail and corporate distribution channels in the Asia Pacific region”.
Helloworld ceo Andrew Burnes said the acquisition, for an undisclosed figure, would be funded from existing cash reserves and is expected to settle this month. He said Flight Systems would strengthen the technology suite in Helloworld’s corporate and leisure wholesale operations.
“Flight Systems [will] provide the company with a low risk and low cost entry to some sophisticated distribution technologies to incorporate into the rapidly developing ResWorld agency platform, which is being rolled out during 2018,” Burnes added.
More details in today’s issue of Travel Daily.
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Source: traveldaily