Expedia buys Egencia
Base for European corporates
Expedia, the world's biggest online travel agent, is getting into the European corporate market with the acquisition of Egencia, a VC-backed French firm. Terms are undisclosed.
Set up in 2000, Egencia has raised €20.4m in three finance rounds. Backers included Carlyle Europe Venture Partners et Crédit Lyonnais Private Equity.
The firm claims 500 corporate customers and transacts two-thirds of its business online. It has branches in France, the UK and Belgium, with the latter formed through the October 2003 acquisition of Brussels travel agent Experience Travel.
Egencia is to be renamed Expedia Corporate Travel Europe. ®