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- Release Date: 13/12/12 10:30
- Summary: GENERAL: TME: Trade Me purchases Holiday Homes
- Price Sensitive: No
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TME
13/12/2012 08:30
GENERAL
REL: 0830 HRS Trade Me Group Limited
GENERAL: TME: Trade Me purchases Holiday Homes
Announcement: Trade Me
12 December 2012
Trade Me purchases Holiday Homes
Trade Me has entered into an agreement to purchase the Richmond-based
accommodation website Holiday Homes (www.holidayhomes.co.nz). A due
diligence process has been completed, and a sale and purchase agreement was
signed today.
Holiday Homes provides a directory of holiday homes, baches, and cribs around
New Zealand and the South Pacific. It also lists activities and service
providers close to accommodation providers.
Trade Me CEO Jon Macdonald said he was delighted with the acquisition. "The
owners of Holiday Homes, Mark and Elizabeth Greening, have had a passion for
holiday home and bach accommodation all their lives. Back in 1997 they built
the first version of the Holiday Homes website, and they've done a great job
of growing a successful online business," he said.
"Holiday Homes complements our existing portfolio of travel businesses
including Travelbug, BookIt and Holiday Houses. It's great to have Mark
continue as general manager of the website, and it's business as usual for
existing Holiday Homes property owners."
The purchase price is confidential, and the transaction is cash funded.
-ends-
Contact: Paul Ford, Trade Me, +64 4 803 2611, [email protected]
More info: Trade Me investor website: http://investors.trademe.co.nz/
End CA:00231032 For:TME Type:GENERAL Time:2012-12-13 08:30:09
