Acuity, the trusted technology M&A advisor, is pleased to announce that it has acted as exclusive financial advisor on the cross-border sale of Where Are You Now? (“WAYN”) to lastminute.com, a leading European online travel agent.
WAYN, based in Tech City – East London, is the world’s largest social travel network boasting a membership of over 20 million travel enthusiasts, and its website has won numerous awards. The acquisition represents the next step in lastminute.com’s strategy to help advertisers tell integrated stories through powerful content, further enhancing its content offering across the group’s European travel sites which include lastminute.com, Rumbo, Volagratis, Bravofly and Jetcost. lastminute.com attracts on average 43 million unique visitors every month and the addition of WAYN to its portfolio will help to reach an even wider lucrative travel and lifestyle audience across Europe.
This transaction is a further example of continuing consolidation in the online media and travel sectors and demonstrates Acuity’s strong sector experience and continued transaction flow in these areas.
Peter Ward, Founder and CEO of WAYN, commented: “The partners at Acuity really understood our business and the power of the platform we have built. Marcus and Matthew along with Nicci, their excellent client support executive, did all of the work on our transaction. By really understanding WAYN’s key value drivers they were able to introduce the acquisition opportunity to a number of companies that would not have been immediately obvious, but who engaged in the process and were credible potential buyers. I have already, and look forward to again recommending Acuity to other entrepreneurs who are considering a process to sell their companies to a strategic buyer.”
Jerome Touze, co-founder and CRO of WAYN, added: “We are very excited to be part of such a dynamic group, comprising of so many iconic brands. By combining WAYN’s unique capabilities and audience with those of the group, we are able to bring a market leading proposition reaching circa 40m unique visitors per month worldwide. This is something to be proud of and we very much look forward to the journey ahead.”
Marcus Allchurch, Partner at Acuity, commented: “It has been a pleasure working with the founders of WAYN to deliver a transaction which will place the business at the heart of one of Europe’s most exciting players in the online travel market. The team at WAYN are exceptional entrepreneurs and have created a business with unique strengths and capabilities; they will now be able to leverage those across the wider lastminute.com to create significant value.”
About Acuity Advisors
Acuity, the trusted technology M&A advisor, has eight technology specialist M&A partners located in offices in London, Munich and Silicon Valley. This sale represents Acuity’s 10th cross-border transaction in the last 18 months.
I look forward to recommending Acuity to other entrepreneurs who are considering a process to sell their company to a strategic buyerPeter Ward, Founder & CEO Where Are You Now?
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