GED acquires “Paravion.ro”, the largest online agency in Romania
GED has acquired Paravion.ro as part of the Build-up strategy in the tourism sector that started in December 2007 by acquiring Happy Tour, aiming to consolidate a leading travel services provider in Romania able to extend operations to other Eastern Europe countries, a press release informs. Paravion will remain as the online company of the group offering air tickets, hotel bookings and rent a car reservation services, keeping its brand name and operating independently of Happy Tour, which is operating at the corporate level. Paravion.ro has reported EUR 5 M turnover in 2009 and expects to increase up to 7 M in 2010. “As in the rest of the world, the on-line reservations are increasing drastically in Romania and if we want to be really prepared to serve our clients, the acquisition of Paravion.ro was a critical step for us. (…) Paravion.ro is fully operational and has behind it the booking engine of Amadeus, the world’s largest Global Distribution System which is also a guaranty for us, as it will allow us to further develop this tool”, Happy Tour officials indicated. The transaction is subject to the Competition Council approval, with the expected closing in the second part of June.