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Travelocity has acquired complete ownership of ZUJI, including its operations in Australia and New Zealand, in a bid to strengthen the company’s global presence and improve its position for additional growth in the Asia-Pacific region.
ZUJI, the leading online travel company in the Asia-Pacific Region, also includes operations in Hong Kong, Korea, Singapore and Taiwan.
The acquisition comes after Travelocity and its affiliates previously owned 13.63 per cent of ZUJI, and purchased remaining shares from Abacus International and AGC Holdings for approximately US$34 million.
“It is a natural progression for Travelocity to take full ownership of ZUJI and the purchase positions us nicely for future growth in the fast-growing Asia-Pacific region,” Travelocity President and CEO, Michelle Peluso said.
ZUJI, the leading online travel company in the Asia-Pacific Region, also includes operations in Hong Kong, Korea, Singapore and Taiwan.
The acquisition comes after Travelocity and its affiliates previously owned 13.63 per cent of ZUJI, and purchased remaining shares from Abacus International and AGC Holdings for approximately US$34 million.
“It is a natural progression for Travelocity to take full ownership of ZUJI and the purchase positions us nicely for future growth in the fast-growing Asia-Pacific region,” Travelocity President and CEO, Michelle Peluso said.