Helloworld Travel buys Flight Systems
Travel company Helloworld Travel (ASX:HLO) has announced the purchase of Flight Systems, a provider of web-based flight booking technologies.
The acquisition follows the purchase by Helloworld of Magellan Travel Group two weeks ago.
Helloworld says the business is expected to generate a total transaction value of over $80 million for the 2018 financial year.
The purchase will be funded by existing cash reserves and the sale is expected to be completed by the end of March 2018.
The company says the deal will strengthen the business technology suite in its corporate leisure activities.
Shares in Helloworld (ASX:HLO) are trading 0.42 per cent lower to $4.71