Reports from Forbes.com today suggests US-based Travelocity has fully acquired regional online travel booking firm ZUJI for US$34 million to boost its Asia-Pacific business.
Under the deal, completed today in Singapore, Travelocity and its affiliates raised their stake in ZUJI to full ownership from 13.63 pct.
‘It is a natural progression for Travelocity to take full ownership of ZUJI and the purchase positions us nicely for future growth in the fast-growing Asia Pacific region,’ said Michelle Peluso, president and chief executive of the US travel firm.
Launched in 2002, ZUJI is a joint venture between 15 leading Asia Pacific airlines and Travelocity. It has internet travel operations in Singapore, Hong Kong, Taiwan, South Korea, New Zealand and Australia.
