WP Holding (Wirtualna Polska Holding) is acquiring European online travel agency Invia Group for approximately €240 million.
The Polish technology holding company, which is listed on the Warsaw Stock Exchange, has signed a framework agreement to buy all the shares of the multi-brand OTA. Invia Group operates in Austria, Germany, the Czech Republic, Switzerland, Slovakia, Hungary and Poland.
In addition to the upcoming purchase of Invia Group, WP Holding also owns Szallas Group, which operates brands in the domestic travel sector in Poland, Czechia and Romania, and Wakacje.pl, an online travel platform in Poland.
The company will receive 100% of Invia Group’s shares from current shareholders including Rockaway Capital and CITIC Europe Holding.
With its latest purchase, WP Holding said it will have a comprehensive range of offerings including domestic and international options and will handle transactions of more than €2.5 billion.
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With regulatory approvals, WP Holding CEO Jacek Świderski said that the transaction will mark the largest investment in Germany and the fifth largest mergers and acquisitions transaction in Polish history in terms of non-state owned companies.
“We want to combine the scale provided by the Western European market and the growth potential offered by the Central and Eastern European market,” Świderski said. “For WP Holding, this also represents an identity shift. For the first time in our history, we will generate more revenue and profits from travel operations than from media.”
Invia Group is parent to booking platforms including Ab-in-denUrlaub.de, Travelplanet.pl, Invia.cz, Invia.sk, Invia.hu and Fleuge.de, an online travel agency for flights.
“Joining forces with WP Holding represents a unique opportunity for Invia Group to continue its growth and pursue ambitious goals in the European online travel market,” said Boris Raoul, CEO of Invia Group. “This transaction opens up entirely new possibilities for scaling our operations and strengthening our market position in key regions.”
WP Holding’s acquisition news is the latest in a slew of moves by big travel brands as the year comes to a close. News came Monday that Despegar has been acquired by Prosus. And Tripadvisor announced it buying back its shares from Liberty Tripadvisor Holdings in a $435 million deal last week.
