Lastminute.com buys lastminute.de $55m

[Garry Anderson]

LONDON (SHARECAST) - Lastminute.com has acquired its German namesake lastminute.de group for £31m through a mixture of cash and shares.

Lastminute said the acquisition would create the largest online travel group in Germany. The deal includes the rights to the domain name lastminute.tv. Lastminute.de reported pretax profits of €2.6m last year.

Lastminute chief executive Brent Hoberman said: "This transaction removes the confusion between the .com and .de brands and ensures that all of our marketing efforts benefit the lastminute.com businesses in Germany".

The German business has done well in the cheaper package tour market and may keep its .de brand specifically for this end of the market, the UK company added.

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=296397

Last paragraph - I think they mean British customers keep rip-off prices.

 

[NameWolf]

First advertising.com then this. Things are definetly looking up for .COM businesses.

Regards,

NW

 

[Garry Anderson]

The business is main value of sale.

However, I thought it more interesting that German business used the same name as UK company.

Some might call that cybersquatting.

 

[Garry Anderson]

Further to this cybersquatting point - quote:

Lastminute.de is approximately half of the size of Lastminute.com's existing German business - together they will have pro forma annual revenues of €150m. The acquisition will improve lastminute.com's retail gross margin and enhance the delivery of operating profit from the German business for the current financial year, Lastminute.com says.

And of course it means that Lastminute now has complete ownership of "its" name in Germany.

http://www.theregister.co.uk/2004/06/30/lastminute_buys_german_rival/

 

[peekaboo]

on the other hand, firstminute.com, is still for sale > http://www.firstminute.com :-D

 

[freestyler]

on the other hand, firstminute.com, is still for sale > http://www.firstminute.com :-D

lol :-D

 

[lilian]

on the other hand, firstminute.com, is still for sale > http://www.firstminute.com :-D

 

[Theo]

Sabre Holdings Corp.(TSG) Thursday said it plans to buy Lastminute.com (UK:LMC) in a cash deal that values the loss-making British online travel company at 577 million pounds, rising to 606 million pounds ($1.1 billion) including debt. Sabre said its Travelocity Europe subsidiary is offering 165 pence a share for Lastminute.com. The terms set a 7.8% premium to Lastminute's close in London Wednesday at 153 pence, after the stock rallied 45% on deal expectations.

More info at http://news.yahoo.com/news?tmpl=story&u=/ap/20050512/ap_on_bi_ge/britain_lastminute_8

 

[FreddySFreddyS is verified member.]

wow!
great Domain, and you are in the biz!
the .org is on sedo for sell.
last-minute.com.pt and last-minute.hk is still free!
And I just got last-minute.co.in

 

[ThreeD]

hmmmm sure was a nice buyout