Cheapflights has ended a five-month search to offload its non-flight brands and sold CheapHolidayDeals and CheapAccommodation to the Internet Business Group for £1.1 million. The deal includes up to 75 domain names based on the “cheap” theme and follows a shift in strategy at the price comparison site earlier this year to focus on flights,…
Cheapflights sells non-flight brands to Internet Business Group
Cheapflights has ended a five-month search to offload its non-flight brands and sold CheapHolidayDeals and CheapAccommodation to the Internet Business Group for £1.1 million.
The deal includes up to 75 domain names based on the “cheap” theme and follows a shift in strategy at the price comparison site earlier this year to focus on flights, the core part of the business.
For the Internet Business Group the sale comes during a busy period following the launch of its own price comparison site – Henoo.com – earlier this year.
The company also owns the AffiliateFuture advertising brand, which has long standing relationships with the likes of Holiday Extras, Lowcostbeds.com, Virgin Holidays and Alpha Rooms.
INB chairman Maziar Darvish said: “This transaction has significant strategic value for the Company.
“The reach of the acquired operations are highly complementary with IBG’s existing holiday search platform, Henoo.com and AffiliateFuture’s established position in the travel sector.
“IBG now offers a very broad and exciting mix across the sector and this acquisition further consolidates the Company’s expertise within travel.”
IBG is expected to relaunch some of the sites by mid-September.
Meanwhile, Cheapflights has this week appointed two new senior executives for its London offices.
Jagjivan Ram joins a head of product development, following a period at Cendant TDS as senior technical products development manager.
Ram is joined by Vicky McAllister as sales account manager. She previously headed up partner relations at internal portal AOL’s travel channel in the UK.
