16th Oct 2006 09:42
16th October 2006 Daily Mail and General Trust plc (`DMGT') DMGT acquires Villarenters.com Associated Newspapers, the national newspaper division of DMGT, announces thatit has acquired Villarenters.com Limited ("Villarenters.com"), a company whichprovides villa owners with the tools to publish, advertise and process bookingsfor their properties online. This acquisition will form part of the Teletextnetwork of travel assets.In its last financial year to 31st December 2005, the unaudited revenue ofVillarenters.com was ‚£0.5 million. In the current financial year revenue isforecast to be ‚£0.9 million. The consideration was ‚£3.0 million in cash atcompletion for 50% with arrangements to acquire the balance for a further sum,expected to be of a similar order, dependent upon the performance of thebusiness over the next three years.Villarenters.com is a small but rapidly growing business which, by providingsimple online booking and payment tools directly to private villa owners,enables consumers to access a wide selection of rental properties which mightnot otherwise be available.The acquisition of Villarenters adds to Teletext's portfolio of online and TVtravel businesses and continues the Group's strategy of increasing its presencein the online travel advertising market.Enquiries:Nicholas Jennings, Company Secretary, DMGT 020 7938 6625Graham Brown, Director, Teletext, 0870 731 3604Andrew Honnor / Peter Hewer, Tulchan Communications, 020 7353-4200 Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594ENDDAILY MAIL & GENERAL TRUST PLCRelated Shares:
DMGT.L