HomeAway has made its first acquisition since listing on the public markets last year, snapping up Spain-based rural accommodation rental platform Toprural.
Terms of the deal were not included in the announcement, but some are expected to be unveiled at HomeAway's first quarter 2012 earnings call later this month.
The acquisition gives HomeAway a further 11,600 paid and almost 30,000 free listings on the Toprural system.
Formed in 2000 in Madrid by Francois Derbaix, Toprural is a specialist in independently owned rural rental properties in the southern European countries of France, Spain, Italy and Portugal.
Toprural's addition to the HomeAway is the first significant corporate move by HomeAway since its IPO in June last year and reignites the company's interest in buying independent vacation rental brands in Europe.
The last deal in Europe was for Homelidays in France in January 2009, the last in a trio of acquisitions following Abritel in January 2007 and OwnersDirect in the UK in August 2007.
Back in global domination mode, HomeAway CEO Brian Sharples says:
"Adding Toprural’s unique lodging options to our international network of vacation rentals supports our mission of making every vacation rental and bed and breakfast in the world easily available to every traveller."
Toprural's staff of 46 will continue to run the business from Madrid under existing chief operating officer Rafael Pérez-Olivares Hoepfl who will become general manager of the unit.
Derbaix will stay on as a consultant during the transition, HomeAway says.