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Article: Internet Business buys travel sites [Internet Business].
- Article from:
- Total Telecom Online
- Article date:
- July 5, 2006
CopyrightCOPYRIGHT 2006 Terrapinn Holdings Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Internet Business
Internet Business Group Wednesday announced it has acquired a number of non-flight assets from Cheapflights for GBP1,100,000.
The acquisition will be satisfied by a mixture of GBP355,000 in cash from existing resources and GBP745,000 in IBG shares at 33.65 pence per share (being the volume weighted average price for the period between June 27 and July 3).
In addition, the transaction includes approximately 75 domain names which are variations of CheapHolidayDeals, CheapAccommodation or CheapShortBreaks. There are no e-mail databases included in the transaction.
Cheapflights will continue to host and maintain ...