Lastminute owner sold to US companies

lastminute%20advertisement

Sabre Holdings, owner of website Lastminute.com and Travelocity, is to be bought for $4.5bn (£2.2bn) by US venture private equity companies Silver Lake Partners and Texas Pacific Group.

It is understood that the travel and leisure brands will be retained and that the two websites will continue to operate as usual.

Sabre Holdings bought Lastminute.com, launched in 1998 by Brent Hoberman and Martha Lane Fox, for just over $1bn (£573m) last year.

Hoberman stood down as chief executive earlier this year while Lane Fox left the business in 2003. Marketing director Mat Hart also left the company this year and is yet to be replaced.

 

Recommended

Posts hosts top mash bash

Marketing Week

There’s nothing better than a pleasant surprise to leave your head spinning, as BBH proved last week when it hosted a festive drinks party. There had been murmurings about the event, which, at first flush, seemed to offer the relatively unglamor…

Why Creatives Really Shine

Marketing Week

WCRS is an agency that has turned itself around in spectacular fashion this year: it’s scored some big wins including Churchill, Littlewoods and, spectacularly, BSkyB. One of the agency’s tricks in the pitch process is apparently to crystallise its …

Tommy Guns unveils branded hair range

Marketing Week

TommyGuns, the London-based salon chain, is extending its brand into haircare products. The range will be launched in February with national distribution through Boots. The products, positioned at the premium end of the market, will also be sold…