Tuesday, January 12, 2010

Trade Me to acquire BookIt

It looks like the amalgamation of the online travel space has started early  this year.

Our friends at Travelbug have sent us the following press release that will be of interest to our accommodation provider readers:
Trade Me has reached conditional agreement to acquire the business of BookIt Limited.
Dunedin-based BookIt is a leading online software provider for New Zealand tourism operators. The company has been providing booking tools and payment processing services for a network of more than 40 reselling websites and 1700 tourism suppliers for the last five years.
BookIt co-founder, Ian Taylor, said the sale to Trade Me would bring a level of online expertise and resource that would allow BookIt to realise its full potential.

"We’ve been looking for a strategic partner for some time who shared our vision in the online booking space. Trade Me was the perfect fit and feedback from our clients has been positive."

BookIt was recently included in the Deloitte Technology Fast 500 for the Asia Pacific region, having experienced very strong growth over the past two years. It has three staff who will continue on in the business as Trade Me employees.

Trade Me’s Head of Travel Alex Fala said the deal would be good for existing customers of both Trade Me and BookIt.

“Users of Travelbug and our reseller network will be able to choose from a deeper selection of accommodation and a broader range of products, including activities like skiing and sightseeing tours. Suppliers to BookIt and Trade Me will benefit from a larger audience.”

Mr Fala said Kiwis are using the internet more to book their travel, and the move made sense. “Trade Me made it easy for people to buy and sell online, and we’re confident that Travelbug will continue to make booking travel in New Zealand easier too.”

The new Trade Me travel team will be working with suppliers and resellers to ensure a smooth integration.

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