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Slide #48. HomeAway, Inc. — travelmob
HomeAway, Inc. (NYSE:AWAY)
HomeAway, Inc. (NASDAQ: AWAY), the world's leading online marketplace for vacation rentals, has signed an agreement to acquire majority control of travelmob, an online start-up for vacation rental properties in Asia Pacific. The all-cash transaction is expected to close in a few weeks and following the closing, the travelmob management team will retain a 37 percent share of the business and continue to operate as an independent brand from its Singapore headquarters. For the remainder of fiscal 2013, HomeAway expects to incur about $2.0 million in additional expense to further grow the travelmob business. While the price and terms of the deal have not been disclosed, HomeAway will discuss this acquisition during its second quarter 2013 earnings conference call on Thursday, July 25.
HomeAway operates an online marketplace for the vacation rental industry. Vacation rentals are fully furnished, privately owned residential properties, including homes, condominiums, villas and cabins, that property owners and managers rent to the public on a nightly, weekly or monthly basis. Co.'s marketplace brings together travelers seeking vacation rentals online with property owners and managers of vacation rental properties located in 190 countries globally. Co.'s online marketplace serves two main constituents: property owners and managers on one side and travelers on the other. As of Dec 31 2014, Co. operated its online marketplace through 40 websites in 22 languages.
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