eDreams Odigeo, an European online travel company and one of the largest European e-commerce businesses, has purchased the the hotel booking platform TheWaylo.com from RoamAmore, a Silicon Valley-founded business. Terms were not disclosed. The transaction is expected close by the fourth quarter of eDreams Odigeo’s fiscal year 2020.
This purchase provides eDreams with innovative artificial intelligence-driven technology and hotel domain expertise, which will allow the company to further grow its hotel and dynamic packages offering with additional content from thousands of hotels worldwide, according to the company.
"We are constantly seeking and harnessing the latest technology to deliver more options, greater value and better service for our 18 million customers worldwide, while also growing every aspect of our company,” eDreams CEO Dana Dunne said in a statement. “We have a business that generates a strong free cash flow, allowing us to pursue strategic growth opportunities that deliver value to our company, customers and shareholders. With this acquisition, we are thrilled to be further strengthening our hotel and dynamic package products, which are central to our product and revenue diversification strategy that is successfully building an attractive, diversified and sustainable business."