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ProSiebenSat.1 acquires Etraveli

Oct 12, 2015

– creating an even stronger platform for further global growth.

We are pleased to announce that the shareholders of Etraveli Holding AB (“Etraveli” or the “Company”) have signed a definitive agreement to sell all outstanding shares to ProSieben Travel GmbH, a subsidiary to ProSiebenSat.1 Media AG (“ProSiebenSat.1”) – one of the largest independent media corporations in Europe, for an overall valuation of approximately €235 million. ProSiebenSat.1’s strong position in media and e-commerce will enable Etraveli to strengthen and develop its growth and internationalisation plans even further.

Etraveli is the leading e-commerce group for online travel in the Nordics and one of the five largest in Europe, providing a wide range of airline tickets, hotel accommodation and other travel related services. The Company operates in 40 countries on 4 continents. In 2014 Etraveli transacted air tickets and related services for about SEK 8.5 billion, and had more than SEK 640 million in revenue. In recent years Etraveli has grown significantly, expanded its geographical footprint and increased its profitability. In the first six months of 2015, Etraveli’s net revenue growth was 34% y-o-y.

The management of Etraveli sees this as a unique opportunity and is very excited about the potential following the transaction.

Etraveli has in recent years significantly expanded its footprint and showed good profitable growth. During this period Segulah has proven a very supportive owner and has been instrumental in the growth and development of the Company. Now with ProSiebenSat.1 as our new owner, with their strong platform, marketing reach and e-commerce base, we have all the opportunities to continue on our global growth path“, says Mathias Hedlund, CEO of Etraveli.

“With our investment in Etraveli, we have taken a significant step toward internationalizing our existing travel portfolio and we have laid the foundation for additional growth that extends far beyond the borders of Europe. Our strategic goal is to gradually globalize the digital business fields so we can continue ProSiebenSat.1’s success story as an e-Commerce powerhouse”,
says Dr. Christian Wegner, Member of the Executive Board ProSiebenSat.1

Since 2010, Etraveli has been owned by private equity fund Segulah IV, L.P.

We are very pleased with how Etraveli has developed over the past five years – it has been a successful investment that has given the investors in Segulah IV a good return. In addition, it has been a pleasure to work with the management team in Etraveli. We firmly believe that ProSiebenSat.1 will be a very good new owner and enable management to continue to grow and build on the company’s success“, says Percy Calissendorff, Partner, Segulah Advisor AB.

Thanks to a knowledgeable and dedicated staff, an internal culture that combines an analytical approach with rapid implementation of operational changes, we have been able to grow fast with strong profitability. I look forward to continue developing our global expansion plan together with our new owner, management and our employees”, continues Mathias Hedlund, CEO of Etraveli.

The transaction is subject to competition clearance. Arma Partners LLP acted as exclusive financial advisor to Etraveli and Segulah IV L.P.

Contact

Mathias Hedlund, CEO
+46 (0) 706 66 37 58,
mathias.hedlund@etraveli.com

Claes Tellman, CCO
+46 (0) 703 99 62 81.
claes.tellman@etraveli.com

Etraveli AB (publ) discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was released for publication on the12th of October 2015 at 8.00 am.

About ProSiebenSat.1

ProSiebenSat.1 is one of the largest independent media corporations in Europe. ProSiebenSat.1 is the market leader in its core business of advertising-financed free TV, and is successfully adding digital entertainment offerings to its value chain. In recent years, ProSiebenSat.1 has also built up an attractive e-commerce and ventures portfolio that is now one of its most important growth drivers. In addition, ProSiebenSat.1 has a presence in seven countries with an international program production and sales network.

Documents & Links

ProSiebenSat.1 acquires Etraveli (pdf-format) »
Mediakoncernen ProSiebenSat.1 förvärvar Etraveli (pdf-format) »
Press kit – Infographics – Eng (pdf-format) »
Press kit – Infographics – Sve (pdf-format) »