Message #10 From:
NewsBot Date: January 22, 2007 06:14:00 AM
ONVC News Online Vacation Center Holdings Corp. Acquires Certain Assets of SmartTraveler.com, 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
certain assets of SmartTraveler.com, Inc., a home-based travel seller
and Internet media company. The transaction was effective January 19,
2007.
Online Vacation Center Holdings acquired two online consumer travel
newsletters, Cruise Newsletter (www.cruisenewsletter.com)
and Travel Newsletter (www.travelnewsletter.com)
from SmartTraveler.com, Inc. as well as its home based travel agent
business. The purchase, which was made for a combination of cash and
Online Vacation Center Holdings common stock, is expected to be
accretive to earnings in 2007.
“The acquisition of these assets from
SmartTraveler.com further expands our Internet media and travel
publishing business with the addition of two well respected consumer
newsletters for great cruise and travel offers, as well as approximately
300,000 subscribers,” said Ed Rudner, Chief
Executive Officer of Online Vacation Center Holdings Corp. “With
our continued acquisition of travel publishers and industry newsletters,
Online Vacation’s e-mail expertise and a
growing base of advertisers, we believe we are putting together a very
exciting advertising outlet for vacation suppliers and agents.”
Mr. Rudner added, “This transaction also marks
our entry into the home-based travel agency business with the addition
of 30 home-based agents to our organization. The home-based agent model
is one of the fasted growing segments in our industry and we look
forward to increasing our participation in this market.”
Alpharetta Ga. based Innovative Travel Acquisitions Inc. 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.
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.
