Breaking: Tripadvisor has made its first large acquisition in a long time, one that was overdue: it has acquired online tours and activities booking provider Viator, for $200 million, most of it in cash.
Upon closing, expected in third quarter of this year, Viator will be Tripadvisor’s fourth acquisition in 2014, following lafourchette, Tripbod, and Vacation Home Rentals.
Founded in 1995, Viator raised about $20 million in funding in its long existence. The company will stay as a standalone site, and for now, it looks like the current CEO Barrie Seidenberg will be staying. The company has more than 250 employees who will continue to work at the company’s headquarters in San Francisco and offices in Las Vegas, London and Sydney.
Previous Skift stories on Viator’s business:
- SkiftStudio: Viator Says Real-Time Booking of Tours and Activities Has Arrived
- Viator In Growth Mode As It Doubles Office Space in Las Vegas
Press release below.
TripAdvisor has entered into an agreement to acquire Viator, a leading resource for researching and booking destination activities around the world. Viator features more than 20,000 bookable tours and attractions and more than 600,000 reviews, photos, and videos submitted by travelers.
“Viator will be a great addition to the TripAdvisor family, as online and mobile bookings for attractions and activities represents a huge opportunity for our business,” said Stephen Kaufer, president and CEO of TripAdvisor, Inc. “Travelers want to explore local attractions while on their trip, and Viator’s depth and breadth in global attractions combined with their seamless booking experience will provide immediate benefit to our community, whether in the planning phase or on the trip.”
“Our selection of tours and activities spanning 1,500 destinations are a strong complement to TripAdvisor’s wealth of in-destination planning resources,” said Ms. Barrie Seidenberg, CEO and president of Viator. “We share a vision for providing the resources travelers need to plan and have the perfect trip, and this deal would enable Viator to help more travelers experience the best activities their destination has to offer.”
Viator works with the best local operators to provide travelers with access to tours and activities in popular destinations worldwide. Bookable in 10 languages and in 10 currencies, travelers can book online in advance, and in destination via the Viator Tours & Activities App. In addition to its consumer-direct business, Viator also provides local experiences to more than 3,000 affiliate partners, including some of the world’s top airlines, hotels and travel agencies.
Viator has more than 250 employees who will continue to work at the company’s headquarters in San Francisco and offices in Las Vegas, London and Sydney.
Subject to the completion of customary conditions, the acquisition is expected to close during the third quarter of 2014. Upon closing, Viator will be the fourth acquisition in 2014, following lafourchette, Tripbod, and Vacation Home Rentals. The purchase price for the transaction is approximately $200 million, subject to adjustment, and will be payable substantially in the form of cash.