What's Happening?
Helloworld Travel Limited has completed the acquisition of the remaining 50% stake in Mobile Travel Holdings, known as Mobile Travel Agents (MTA), for approximately $36 million. This acquisition brings Helloworld's total investment in MTA to around $50
million, following an initial 50% purchase in 2017. MTA, founded by Karen and Roy Merricks in 2000, is a leading mobile retail travel broker operation in Australia, with over 60 personnel and 450 home-based travel agent advisors. The acquisition is expected to add an additional $440 million to Helloworld's Total Transaction Value annually. Lesley Owen has been appointed as Group General Manager of MTA, succeeding the founders who will remain involved in the business.
Why It's Important?
The acquisition signifies Helloworld's strategic expansion in the Australian travel market, enhancing its capabilities in the mobile travel sector. By fully integrating MTA, Helloworld aims to leverage MTA's established network and award-winning service to boost its market presence and financial performance. This move is likely to strengthen Helloworld's competitive position against other major players in the travel industry, potentially leading to increased market share and customer base. The appointment of Lesley Owen as Group General Manager is expected to bring fresh leadership and continuity to MTA's operations.
What's Next?
Helloworld plans to continue working closely with MTA's founders to ensure a smooth transition and maintain the company's culture and values. The focus will be on expanding MTA's reach and enhancing its service offerings to attract more clients. The acquisition may also lead to further investments in technology and marketing to support MTA's growth and integration into Helloworld's broader business strategy.
