Pursuits
ProSiebenSat.1 Buys Travel Website in $270 Million Deal
- German broadcaster acquires Sweden's Etraveli using cash
- Purchase is company's biggest international e-commerce deal
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ProSiebenSat.1 Media SE bought Etraveli Holding AB in a deal valuing the Swedish online travel agency at about 235 million euros ($267 million) as the German broadcaster expands its digital operations.
ProSiebenSat.1 acquired Etraveli from private-equity investor Segulah IV LP, the broadcaster, based near Munich, said Monday in a statement. The deal is the largest international e-commerce investment for ProSiebenSat.1 so far as the company seeks to grow beyond its TV business. ProSiebenSat.1 used cash to pay for the purchase, Marcus Prosch, a spokesman, said by phone.