Message #8 From:
NewsBot Date: January 8, 2007 05:30:00 AM
ONVC News Online Vacation Center Holdings Corp. Acquires Dunhill Vacations, Inc.
PLANTATION, Fla.--(BUSINESS WIRE)--Online Vacation Center Holdings Corp. (OTC BB: ONVC), an aggregator of
diversified vacation sellers, today announced that it has acquired
Dunhill Vacations, Inc. Based in Fort Lauderdale, Florida, Dunhill
Vacations publishes the leading vacation values newsletter Dunhill’s
Vacation News. The acquisition was effective January 5, 2007.
Online Vacation Center Holdings purchased Dunhill Vacations, Inc. for a
combination of cash and Online Vacation Center Holdings common stock.
The acquisition is expected to be accretive to earnings in 2007.
“Dunhill Vacations significantly expands our
customer base through the addition of their database of approximately
one million e-mail addresses,” said Ed Rudner,
Chief Executive Officer of Online Vacation Center Holdings Corp. “It
also further expands our reach in the travel publishing business. Their
e-mail based vacation newsletter Dunhill’s
Vacation News represents a valuable tool in the marketing effort of
vacation suppliers and agents. As a result, as we leverage Online
Vacation Center’s e-mail marketing expertise
and the advertiser base of Phoenix International Publishing, which we
acquired in 2006, we expect advertising revenue from electronic
publishing to become a greater portion of our revenue mix.”
Dunhill Vacations, Inc. is a leading provider of vacation values through
their newsletter Dunhill’s Vacation News.
For more information visit: www.dunhillvacations.com.
Alpharetta, Georgia based Innovative Travel Acquisitions facilitated the
transaction.
About Online Vacation Center Holdings
Online Vacation Center Holdings Corp., based in Plantation, Florida, is
focused on building a network of diversified vacation sellers with a
range of products that can be cross-sold to an extensive customer base.
Target businesses will be financially and technologically sound and
provide a high degree of personalized service to help customers
research, plan and purchase a vacation. The Company, today one of the
country's largest cruise retailers, has been in business for over 30
years and became publicly traded in March 2006. Additional information
can be found at www.onlinevacationcenter.com.
ONVC-F
Certain statements in this press release may be “forward-looking
statements” within the meaning of The Private
Securities Litigation Reform Act of 1995. These forward-looking
statements may include projections of matters that affect revenue,
operating expenses or net earnings; projections of growth; and
assumptions relating to the foregoing. Forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot be
predicted or qualified. Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying the
forward-looking information. These factors are discussed in greater
detail in the company’s filings with the
Securities and Exchange Commission.
