Travelocity has brokered a deal that could see it take a majority share in Zuji, a leading Asia-Pacific online travel company.
Travelocity, a subsidiary of Sabre said in a statement: “Now it’s time to renew focus internationally – this began in earnest last October when we purchased the remaining 50 percent of the Travelocity Europe joint venture, excluding the operations in Germany. And we see Asia-Pacific as a region with great growth opportunities.”
Zuji was formed in 2002 as a joint venture between Travelocity and 15 Asia-Pacific airlines. Zuji is a leading online travel company in Australia, Korea, Singapore, Taiwan, and Hong Kong and utilizes Travelocity technology in the Asia Pacific region as Zuji.com.
Travelocity granted majority shareholders Abacus and AGC an option, exercisable during January 2006, that could see Travelocity pay about $34.5 million for the Zuji shares it does not already own.
Reported by Charles Kao
