Company to re-acquire rights to webjet.com domain name from joint venture partner.
Webjet has just announced the sale of its remaining interest in Webjet Marketing North America, the joint venture it established in 2010 with its former sales manager Mathias Friess.
The business operates as an online travel agency in the US, Canada and Mexico with 40 staff and a projected total transaction value for 2017 in excess of US$150m.
In late 2013 Webjet sold down its stake from 50% to 15%, and is now selling the remaining shareholding to interests associated with Friess.
The sale will see the North American operations transition to ‘Flyus.com’ over the next 12 months, with Webjet to re-acquire ownership and all rights associated with the ‘Webjet’ name, logo and the domain names for US, Canada and Mexico.
More details in Monday’s issue of Travel Daily.