Travelzoo (NASDAQ:TZOO) has acquired the "Travelzoo Asia Pacific Business," which operated independently under the Travelzoo brand, for a mixture of cash and a $5.7M promissory note.
The business had 2014 revenue of $10.8M, and operates in China, Japan, Hong Kong, Taiwan, Australia, and Southeast Asia. Travelzoo highlights the deal's potential to "tap into opportunities arising from the fast-growing number of Chinese outbound travelers."
The company also announces it has added Caroline Tsay, an HP software exec, and Beatrice Tarka, the founder/CEO of travel search engine Mobissimo, to its board.
Aug. 26, 2015, 7:10 PM|6 Comments
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Travelzoo (TZOO +2.9%) CEO Chris Loughlin says in a statement that the company has had no contact with ChaPaVe Partners, the investment firm that announced a plan to bid $40/share for 1.5M shares. Shares have pulled back from earlier gains. Sep. 9, 2011, 12:04 PM
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