Flight Centre snaps up stake in Upside Travel

Company News

by Anna Napoli

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
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.