Away.com Acquires Adventuroustraveler.com; Online Travel Leader Adds Merchandising Division.Business Editors, Internet/Travel Writers WASHINGTON--(BUSINESS WIRE)--October 11, 2000 Away.com, the premier online destination for extraordinary travel, today announced the acquisition of Burlington Burlington, town, Canada Burlington, town (1991 pop. 129,575), SE Ont., Canada, on Lake Ontario. First settled (1798) by Mohawk Loyalist Joseph Brandt, Burlington's economy was built on the shipment of wheat, lumber, and quarried rock by waterway. , Vermont-based Adventuroustraveler.com, a leading supplier of travel merchandise including books, videos, CD-Roms and maps for the experiential ex·pe·ri·en·tial adj. Relating to or derived from experience. ex·pe  ri·en traveler.
Adventuroustraveler.com will function as the gear-merchandising division
of Away.com; further terms of the all-stock deal were not disclosed.
"Away.com has already established itself as the leader in the extraordinary travel space, with superior travel content and a full-service full-ser·vice adj. Associated with or offering complete service: full-service gasoline pumps; full-service banks. customer service center to help travelers book trips," said Sean Greene, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Away.com. "Whether you're in planning mode, booking mode or gearing up for a trip, Away.com now provides a complete soup-to-nuts soup-to-nuts adjective Americanism referring to an organization or system that provides a full range of products or services solution for extraordinary travel." Since opening its doors in 1994, Adventuroustraveler.com has grown from a traditional one-person catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. operation to a renowned, 36-person online and catalog retailer, shipping 1.5 million catalogs per year and generating millions in revenue. As the gear-merchandising division of Away.com, the employees will remain in Burlington and will continue to manage and grow relationships with key partners such as PlanetOutdoors, Novica.com and many others. "In combining our operation with Away.com's, we saw an opportunity for two of the strongest players in the experiential travel space to come together and most effectively reach the end customer," said Spencer Newman, CEO of Adventuroustraveler.com. "Away.com possesses a solid management team who has led the company through other strategic acquisitions and three rounds of multi-million dollar financing -- we knew they were the right partner for us." Last month, Away.com closed a third round of funding totaling $17 million. Circle T Partners of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of led the round, followed by Gannett, the partners of Gleacher & Co., National Leisure Group, New World Ventures and Potomac Ventures. "In Adventuroustraveler.com we found a group of world travelers led by an experienced management team with successful on- and off-line direct marketing capabilities and an excellent sense of customer service," said Greene. "These employees will be a tremendous asset to our organization." About Away.com Away.com (http://www.away.com) is the recognized leader in extraordinary travel, with more than 1 million members and over 10,000 trips for those seeking an unforgettable vacation to challenge the mind, body and senses. With over 100,000 pages of content and a full-service call center, Away.com has been recognized as one of the top 50 privately held Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the companies by investment bank Wit Soundview Capital. The company is backed by Gannett, Circle T Partners, the partners of Gleacher & Co., National Leisure Group, New World Ventures and Potomac Ventures. Strategic partners include Alta Vista See AltaVista. (World-Wide Web) Alta Vista - A World-Wide Web site provided by Digital which features a very fast Web and Usenet search engine. As of April 1996 its word index is 33GB in size. , Expedia.com, Planet Outdoors, Trip.com and USATODAY.com. |
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