TripAdvisor announces agreement to acquire Viator
It was announced recently that the travel website TripAdvisor has agreed to purchase Viator. Viator is a website that allows users to search and book activities to do on trips in various locations across the world. According to Forbes, the deal is for roughly $200 million.
With this acquisition strategy, TripAdvisor looks to add value for its users by adding the service that Viator provides. The services that the two companies provide are complementary, and with this acquisition, TripAdvisor could potentially appeal to a greater number of users looking for things to do on their next vacation.
"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, Tripadvisor's president and CEO, in a press release. "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."
TripAdvisor is already the world's largest travel site, and it looks to continue expanding by acquiring Viator. As Forbes details, Viator provides information about tours available in over 1,500 locations and 20,000 tours that visitors can book. They can also read the 600,000 travel reviews to get a feel for experiences in various areas.
As the article points out, reviews play a big role in influencing the decisions of many consumers as they go about planning a trip. This additional validation may help influence users to book more trips, and help TripAdvisor boost sales.
Any company considering a merger or acquisition can benefit from consulting with an M&A advisor to develop a strategy.