Flight Centre Travel Group
(ASX:FLT) is looking to boost its presence in both the online and youth travel sectors via an acquisition.
The company has offered to acquire US-based StudentUniverse.com group of companies.
Flight Centre notes that StudentUniverse.com has a strong technology platform and is a leading online travel booking service dedicated to the student and youth sector.
Under the terms of the offer, Flight Centre will pay US$28 million for 100 percent of StudentUniverse.com. The acquisition will be funded via company cash.
Flight Centre Travel Group recorded a net profit of $256.55 million at 30 June 2015.
