Transat announces sale of Anyway.com to IAC
Transat A.T. Inc. announced that it has entered into an agreement to sell its French subsidiary Anyway (www.anyway.com) to IAC/InterActiveCorp for an enterprise value of 53 million euro. The sale is expected to close by October 31, 2003. Anyway will join IAC Travel, a division of IAC/InterActiveCorp that encompasses leading online travel brands including Expedia.com, Interval International, TV Travel Shop, Hotels.com and Hotwire.com.
The full year gross bookings for Anyway are estimated to be approximately (euro) 80 million (CAD$123.2 million). Anyway is the third largest online travel site in France. It was created in 1988 as a discount travel agency and expanded into online Minitel services in 1995 and into Internet services in 1999. Anyway is headquartered in Paris and employs more than 100 people.