Happy Tour acquires biggest online airline ticket agency

Spanish investment fund GED makes the first step towards developing the biggest travel group on the Romanian market by acquiring the biggest online airline ticket agency Paravion.ro, through travel agency Happy Tour.
The acquisition of Paravion.ro for an amount put by ZF at around 500,000 euros, is part of GED's consolidation on the travel market, which started back in December 2007 with the acquisition of Happy Tour.
Following the consolidation model of GSM services retailers into Fonomat dealer, the Spanish investment fund announced upon taking over Happy Tour that it was planning to invest 15 million euros in the company and in the acquisition of other travel operators, as well, between 2008-2011.
"We see the online segment as a main business line, which we expect will record two-digit rises, due to the strong demand for this type of services. By acquiring the Paravion.ro platform, web pages, the know-how and the technology, the group took a big step forward," according to GED representatives.