Yanolga, South Korea’s largest travel booking company, plans to acquire the Israeli technology provider Go Global Travel. The acquisition will make Yanolja one of the largest travel solutions platforms in the world.
Apax Mid-Market Israel (AMI), led by Zehavit Cohen, which controls Go Global Travel, is selling hotel and technology company Bnai Brak to Yanolja, which is controlled by Japan’s SoftBank.
No financial details of the deal were disclosed, but market sources believe that AMI, which invested around $85 million, made a significant profit from the sale. Go Global Travel has developed a search engine for travel agencies to book hotel rooms and other tourism services.
During the tech boom at the end of 2021, AMI’s investment in Go Global Travel amounted to $200 million. Private equity fund AMI owns an 87% stake in Go Global Travel, having initially bought an 80% stake in 2017.
Since its founding in the year 2000, Go Global Travel has been managed by President Nino Tager. Go Global Travel currently connects 10,000 tourism platforms with 1 million hotel rooms, car rentals and flights in Europe and North America. The acquisition will help Yanolja expand its cloud arm serving the hospitality and leisure industries in Europe and North America.
Yanolja was represented in the transaction by law firm Watson Farley & Williams and Advs. Yacoub Enoch, David Yacouby and Ahmed Diab from Veyron.
Published by Globes, Israel business news – en.globes.co.il – on May 15, 2023.
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