Otravo, the parent company of Vliegtickets.nl, Vakantiediscounter.nl and many other online travel brands, is taking over Interneto Partneris. The acquisition of this online travel agent from Vilnius, Lithuania, is an expansion into the Baltic States. It is the third acquisition in a row since the entry of investment company Waterland as majority shareholder in February 2016. Previously, Flygstolen and Vakantiediscounter also became part of Otravo.
Active in 23 countries
Interneto Partneris is a young and successful company from Lithuania active in the online sale of airline tickets in 23 countries, under various brands such as Greitai, Flyhi, Flysiesta and Bookinghouse. It is expected that Interneto Partneris will realize an annual turnover of more than 50 million euros in 2017.
Both parties benefit
The acquisition will benefit both parties greatly. Alvydas Vitkauskas, CEO of Interneto Partneris, says, "We are very happy to join Otravo. This will lift our business in Europe to a higher level through synergy effects in the form of purchasing and scale benefits. Partly as a result of this, we will be able to increase our market share, both in the countries on which we primarily focus (Lithuania, Latvia and Estonia) as well as elsewhere in Europe. In addition, we are sure that, through our cooperation, we will be able to offer the customers of Otravo and Interneto Partneris with more travel options, better information and more competitive prices."
- Austrian Private Equity & Venture Capital Organisation (AVCO)
- Belgian Venturing Association (BVA)
- British Private Equity & Venture Capital Association (BVCA)
- Bundesverband deutscher Kapitalbeteiligungsgesellschaften (BVK)
- Irish Venture Capital Association (IVCA)
- Nederlandse Vereniging van Participatiemaatschappijen (NVP)
- Polskie Stowarzyszenie Inwestorow Kapitalowych (PSIK)
- Swiss Private Equity & Corporate Finance Association (SECA)