Travelocity has acquired complete ownership of online travel website ZUJI, and its operations in Hong Kong, Taiwan and the rest of Asia.
Travelocity and its affiliates previously owned, directly and indirectly, approximately 13.63% of ZUJI. In the transaction completed on Jan. 24, 2006 in Singapore, Travelocity purchased the remaining shares in ZUJI from Abacus International Pte. Ltd. and AGC Holdings Ltd., a consortium of 15 airlines in the region, giving Travelocity ownership of 100% of ZUJI. The purchase price was approximately US$34 million.
ZUJI's CEO Scott Blume said that this acquisition highlighted ZUJI's potential for growth and its unique position as a leader and innovator in online travel in the Asia-Pacific region. He also said that the change in ownership would not adversely impact the day-to-day operations of ZUJI teams, Web sites, nor its supplier relationships or customer bookings.
"We look forward to taking advantage of the technology and innovation Travelocity will provide ZUJI as we work to offer customers even more travel choices, greater value, and some clever packaging features when they book on ZUJI," Blume said.
Travelocity has worked closely with ZUJI since ZUJI's launch in 2002, both as an investor and as a technology provider.