Flight Centre (ASX:FLT) has today announced that it has snapped up a 25 per cent interest in The Upside Travel Company, a Washington based, technology-driven business launched in 2017 by Priceline founder Jay Walker.
As a result of the investment Flight Centre will become Upside’s largest individual shareholder, and, will gain access to a travel technology platform as well as software development resources that will enhance its already strong small to medium corporate sector offering.
In addition, the companies have entered into a commercial deal covering co-operation on various distribution initiatives.
Flight Centre says by investing in Upside it is effectively investing in a next generation corporate online travel agency and also taking proactive steps to future proof our successful SME-focused offerings.
Shares in Flight Centre (ASX:FLT) are trading 0.63 per cent higher at $43.47