April 30, 2018 – Lexence has assisted Otravo, parent company of Vliegtickets.nl, dé VakantieDiscounter, Flygstolen, Greitai and many other online travel brands, with the merger with the global online travel agent Travelgenio.com. With this proposed merger, Otravo becomes one of the top 5 online resellers of airline tickets and packaged holidays in Europe. It is the fourth transaction in a row since the entry of investment company Waterland as a majority shareholder.
Corporate / M&A
With its strategy to offer very attractive prices, Travelgenio, founded in 2010, has grown rapidly into a substantial player, with annual turnover of more than € 950 million. The combination will become one of the largest online travel agents in Europe with a joint sales volume of € 1,6 billion.
This transaction will benefit both parties greatly. Hans van Hoffen, Chief Commercial Officer of Otravo, stated, ‘With this strategic transaction we will take a major step towards a global footprint. In addition, we will be able to realise commercial economies of scale that will benefit our consumers. After this transaction we will be among the top five operators in Europe and will be ready to become a leading player.’
Mariano Pelizzari, CEO Travelgenio: ‘This is an opportunity for both companies to take a leading role in the rapidly changing European online travel market. We are happy that we can join Otravo. This will take our business to a higher level through synergies and will help to become an even more relevant player in the travel industry. We are confident that this will also be translated into competitive prices and other benefits for all Otravo customers.’ With co-founder and CTO Pablo Albera, Mariano Pelizzari joins the Otravo Board and continues to manage the Travelgenio brands