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Egencia Announces Agreement To Acquire Leading Nordic Corporate Travel Company VIA Travel

Stocks in this article: EXPE

PARIS, LONDON, MUNICH and BRUSSELS, March 27, 2012 /PRNewswire/ --

Egencia, an Expedia, Inc. (NASDAQ: EXPE) company, announced today that it has entered into a definitive agreement to acquire VIA Travel, the largest travel management company in the Nordics. The combined company will offer industry-leading corporate travel management solutions across the globe.

"We are very pleased to be joining forces with VIA Travel, the corporate travel leader in the Nordics.  VIA's strong commitment to delivering superior service to its customers is perfectly aligned to Egencia's client first approach," said Rob Greyber, President of Egencia.  "Together, VIA Travel and Egencia will provide a robust global corporate travel service to corporate clients, supported by global and local market expertise and industry-leading technology."  

"Our customers are our first priority. Together with VIA Travel we will provide our clients with a rich corporate travel offering and accelerate our collective pace of technology innovation," adds Christophe Peymirat, SVP EMEA & APAC at Egencia.  

"Joining one of the world's largest travel management companies is an exciting step for VIA Travel.  Egencia's global scale, technology expertise and our perfectly complementary global footprint makes the joining of our companies a great outcome for our customers and employees," said Espen Asheim, CEO of VIA Travel Group.

Founded in 1997, VIA Travel Group is the largest travel management company in the Nordic countries. In addition to its core corporate travel services, the company offers services for corporate groups and meetings, leisure travel, marine transport, and more.  

"Corporate travel is a growing part of Expedia, Inc.'s overall business," said Dara Khosrowshahi, CEO of Expedia, Inc., parent company of Egencia. "Together, VIA Travel and Egencia will provide a rich global offering to their corporate customers. We are very excited about welcoming VIA Travel to the Expedia, Inc. family and look forward to driving innovation and providing outstanding service in the corporate travel segment around the globe."

Financial terms of the agreement were not disclosed. The closing of the transaction is subject to approval from relevant competition authorities.  

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