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Homeaway Inc Expands Asia Pacific Presence with Acquisition of Asian Vacation Rental Start-up, travelmob


Tuesday, 16 Jul 2013 07:30pm EDT 

Homeaway Inc announced that it has signed an agreement to acquire majority control of travelmob, an online start-up for vacation rental properties in Asia Pacific. The all-cash transaction is expected to close in a few weeks and following the closing, the travelmob management team will retain a 37% share of the business and continue to operate as an independent brand from its Singapore headquarters. For the remainder of fiscal 2013, HomeAway expects to incur about $2.0 million in additional expense to further grow the travelmob business. While the price and terms of the deal have not been disclosed, HomeAway will discuss this acquisition during its second quarter 2013 earnings conference call on July 25, 2013. 

Company Quote

31.58
0.47 +1.51%
26 Nov 2014