UK-based online travel agency TravelRepublic is heading into the busy January sales on two fronts - heavily discounted products and, more importantly, offloading the business.
The company confirmed today that it has been acquired by Dnata World Travel, a Dubai-based subsidiary of the Emirates Group which specialises in cargo, catering, ground handling and agency services.
Terms of the sale have yet to be disclosed, but according to Thomson Reuters is a 100% transfer of shares to Dnata. Further details are to be released shortly.
The deal marks the end of over eight years as an independent agency following its creation by co-founders Paul Furner and Chris Waite in 2003.
The company has grown steadily to become one of the leading OTAs in the UK alongside Expedia and Lastminute.com, pushing the likes of early movers Opodo and Ebookers into a second tier of web brands in recent years.
Focused primarily on the UK market, TravelRepublic recently expanded operations into Spain with a dedicated office and website. In early-2011 it also had its first significant site redesign since formation of the company.
In recent years, TravelRepublic found itself at the centre of a dispute over consumer protection rules in the UK after the Civil Aviation Authority attempted to punish it for allegedly flouting ATOL legislation.
The CAA dropped the case and lost a subsequent appeal when TravelRepublic and its managing director Kane Pirie were found not guilty.
TravelRepublic's sale comes during an intriguing period for European OTAs.
Mega-brand Odigeo was created during 2011, bringing together Opodo, eDreams and GoVoyages under a single corporate identity, while the relentless growth and power of Booking.com continues to challenge the likes of Expedia in the accommodation sector.