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Webjet to buy Kiwi travel platform Online Republic
Saturday, 08 Jun, 2016
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New Zealand travel booking company Online Republic is being acquired by Australian website Webjet for an estimated NZ$85 million.
Webjet has partnered with the Kiwi firm for the last two years on cruise business.
Online Republic also offers car rentals and has a large motorhome booking channel, with about 90% of sales in the Australian and overseas market.
"Online Republic is highly complementary to Webjet’s existing portfolio, enabling our business to further expand its offering in car rental and cruise and enter the high growth motorhome rental market," said Webjet managing director John Guscic.
"We were really happy with their performance. I liked the company so much that we bought it."
Guscic says the cruise sector has been the fastest growing market.
Online Republic posted annual revenue of $40 million in the last financial year to march 31, Webjet said.
The Online Republic brands will continue to operate under their own name, Webjet added.
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