Etraveli was acquired by CVC for 508 million Euro from ProSiebenSat.1

Etraveli, an Uppsala, Sweden-based global flight-centric online travel agency (OTA), announced that it entered into an agreement for being acquired by the private equity company CVC Capital Partners.

The deal, which is valued at EUR 508M ($570M), was made with current owners ProSiebenSat.1. The German media company paid 235 million Euro for the company in October 2015 when it was purchased from Segulah.

Etraveli, founded in 2000 by Ralph Axelson and led by CEO Mathias Hedlund, is a leading e-commerce group within online travel, sprung from the merger of Swedish company Etraveli and Greek company e-Travel.

The company is offering a broad range of flights, accommodation and other travel-related services, and is active in 72 countries with brands such as Supersaver/Supersavertravel, Gotogate, Mytrip.com, Trip.ru, Pamediakopes.gr and the price comparison site Flygresor.se.

Etraveli has offices in Uppsala, Athens, Stockholm and Gothenburg, as well as operations in India, China and the Philippines. It sold airline tickets and related services to more than 5 million travelers in 2016 for an aggregate value of ca. SEK 18 billion.