Helloworld completes MTA acquisition

Company News

by Jessica Ellerm

Helloworld Limited (ASX:HLO) has announced it has successfully completed the acquisition of a 50 percent stake in MTA.

The acquisition was funded by a capital raising that was launched in late October.

MTA has over 350 mobile travel agents across Australia and adds a fifth network to Helloworld’s agency footprint in Australia.

The acquisition in MTA is part of a continued expansion by the business into the fast-growing home based travel consultancy market.

Helloworld Limited reported a net profit of $1.7 million at 30 June 2016.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.