Booking Holdings Inc. on Tuesday said it will acquire global flight booking provider Etraveli Group from funds managed by CVC Capital Partners.
Booking Holdings
BKNG,
said Etraveli is already a partner of Booking.com, adding the acquisition “will complement Booking Holdings’ ongoing work to build a frictionless global flights offering.”
Booking Holdings said it would pay about EUR1.6 billion ($1.79 billion) for Etraveli Group.
The company also said Etraveli Group will remain headquartered in Sweden and operate as an independent business under Booking Holdings.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
This post was originally published on Market Watch
