Interesting news from the European online travel industry: TOMORROW FOCUS has announced that it has agreed to acquire a majority stake in Webassets, the Dutch parent company of online hotel and travel review portal Zoover (via Tnooz).
TOMORROW FOCUS paid 21 million euros ($25.6 million) in cash for the majority stake in the company, which also operates the MeteoVista weather platforms, in a bid to expand HolidayCheck, its online holiday bookings and feedback portal.
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The company has bought out one of Webassets’ founders, Erwin Rooymans, who is giving up his entire stake. The remaining 49 percent of Webassets will be held by co-founder Bas Rasker and other current shareholders.
TOMORROW FOCUS says it has agreements in place with the parent company of Zoover to take over all the remaining shares by 2017, and notes that ‘further international acquisitions are in the pipeline’.
Zoover receives 15 million unique visitors per month, with 30 percent of its traffic coming from the Netherlands and the remaining 70 percent from other countries. Its core markets are Belgium, France, Germany, the Netherlands and Poland.