Booking Holdings Inc. has acquired the global flight booking provider Etraveli Group from CVC Capital Partners for $1.82 billion.
Etraveli Group will remain headquartered in Sweden and operate with its current management team as an independent business under Booking Holdings, which is based in Norwalk. Glenn Fogel, Booking Holdings”™ CEO, framed the acquisition as a timely strategy for a post-pandemic travel environment.
“As international air travel rebounds from the impact of the pandemic, we look forward to building upon our existing relationship with Etraveli Group to make the travel booking experience easier and more seamless to support our partners and customers,” said Fogel.
CVC Capital Partners, a private equity and investment advisory firm headquartered in Luxembourg, acquired Etraveli in 2017 from the German company ProSiebenSat.1 Media for an undisclosed sum.
