Business Services Industry
lastminute.com acquires French e-travel company
Internet Business News, August 14, 2000
INTERNET BUSINESS NEWS-(C)1995-2000 M2 COMMUNICATIONS LTD
UK-based last minute solutions specialist lastminute.com has acquired the French online travel firm Degriftour for GBP58.9m.
Degriftour, France's biggest Internet-based travel company, has a 50% share of the online travel market in France and operates at a profit. Lastminute.com said that the acquisition would enable it to achieve now what would have taken it two to three years, reported the BBC.
It is thought that the purchase of Degriftour will help lastminute.com to move into profit sooner than predicted. City analysts told the BBC that there is a chance the company could now break even within a year, rather than the previously forecast 2003.
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