Back Travelzoo Acquires Asia Pacific Business

(RTTNews) - Travelzoo Inc (TZOO) on Wednesday said it has acquired the Travelzoo Asia Pacific business ("APAC"), which includes the businesses in Australia, China, Hong Kong, Japan, Taiwan, and Southeast Asia. This business was independently operated by Azzurro Capital Inc. under a licensing agreement with Travelzoo.

The acquisition positions Travelzoo to tap into opportunities arising from the fast-growing number of Chinese outbound travelers and to bring even more travel and lifestyle offers to Travelzoo's 27 million members around the globe.

Travelzoo Inc. held an option right to acquire APAC at fair market value as determined by a third party valuation expert. Travelzoo Inc. exercised its option right to acquire APAC using available cash and a promissory note of $5.7 million with a maturity date of three years. In 2014, APAC reported approximately $10.8 million in revenue.