News Digital Media takes stake in Bezurk
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Asia Pacific travel search engine Bezurk.com has received investment from and sold a minority stake to News Digital Media, the digital media arm of Australia- based News Limited.
The Singapore-headquartered company said News Limited’s backing - an undisclosed sum – would accelerate its product development and international expansion plans.
“Our position in the Asia Pacific region will be further strengthened through the vast promotion, business development and integration opportunities available to us through News’ investment,” said Chief executive officer of Bezurk.com, Martin Symes.
Headquartered in Singapore, Bezurk.com is one of the fastest growing online travel aggregators on the Internet.
News Digital Media’s investment comes as the Asia Pacific travel region is estimated to currently be worth more than US$25 billion and growing.
News Digital Media’s chief executive officer, Richard Freudenstein, said the acquisition is a strategic investment that would help the company identify new commercial opportunities locally and overseas,
“Online travel is a key vertical in News Digital Media’s growth plans and is a natural fit for our business,” Adelaidenow quoted him as saying.
Bezurk.com was founded in 2005 by former executives from Intercontinental Hotels Group, Yahoo!, Priceline and ZUJI. It said it would continue to operate separately to News Digital Media, which will be represented on the Bezurk board.
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