Expedia has closed its buy of Auto Escape Group from Montefiore Investment and some members of Auto Escape Group’s management. No financial terms were disclosed. Based in Germany and France, Auto Escape is an online car rental reservation company.
BELLEVUE, Wash. and HAMBURG, Germany and PERTUIS, France, July 29, 2014 /PRNewswire/ — Expedia, Inc. (NASDAQ: EXPE) today announced completion of its acquisition of Auto Escape Group, one of Europe’s leading online car rental reservation companies from private equity fund Montefiore Investment and certain members of the Auto Escape Group’s management team. Going forward, Auto Escape Group will form a key part of the CarRentals.com brand’s global strategy and team.
About Expedia, Inc.
Expedia, Inc. is one of the largest online travel companies in the world, with an extensive brand portfolio that includes some of the world’s leading online travel brands, including:
Expedia.com®, the world’s largest full service online travel agency, with localized sites in 31 countries
Hotels.com®, the hotel specialist with sites in more than 60 countries
Hotwire®, a leading discount travel site that offers opaque deals in 12 countries throughout North America, Europe and Asia
Egencia®, the world’s fifth largest corporate travel management company
eLong™, the second largest online travel company in China
Venere.com™, the online hotel reservation specialist in Europe
trivago®, a leading online hotel metasearch company with sites in 45 countries
Expedia Local Expert®, a provider of online and in-market concierge services, activities and experiences in hundreds of destinations worldwide
Classic Vacations®, a top luxury travel specialist
Expedia® CruiseShipCenters®, one of North America’s leading retail cruise vacation experts
CarRentals.com™, the premier car rental booking company on the web.
The company delivers consumers value in leisure and business travel, drives incremental demand and direct bookings to travel suppliers, and provides advertisers the opportunity to reach a highly valuable audience of in-market consumers through Expedia Media Solutions. Expedia also powers bookings for some of the world’s leading airlines and hotels, top consumer brands, high traffic websites, and thousands of active affiliates through Expedia Affiliate Network. For corporate and industry news and views, visit us at www.expediainc.com or follow us on Twitter @expediainc.
About the Auto Escape Group
Founded in 1999, the Auto Escape Group offers leisure customers all-inclusive car hire services via its two brands: Auto Escape and Car del Mar. The company enjoys an international reach, ensuring rental car availability with almost 300 suppliers in 125 countries. Through its multi-channel model, Auto Escape Group provides negotiated prices and packages. The two brands operate in 16 source markets. The company employs approximately 115 people in two main offices located in Hamburg, Germany and Pertuis, France.