Webjet has made the biggest move yet in its impressive segue from one-trick-pony OTA to diversified global travel company by agreeing to buy JacTravel for GBP200 million.

JacTravel is a B2B business specialising in multi-channel hotel distribution and tours across Europe.

It has a turnover of c. GDP400 million and is by far Webjet’s biggest acquisition.

Webjet MD John Guscic said the purchase will transform the company’s WebBeds B2B business.

“It represents a step change in WebBeds’ scale with directly contacted hotel relationships increasing from 10,000 to 17,000.”

The acquisition will be funded through a capital raising.

In the year to June 30, 2017, JacTravel had a total turnover of GBP398 million and earnings before in, tax, depreciation and amortisation of GBP19 million.

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