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Cendant acquires Gullivers Travel Associates

Cendant Corporation has agreed to acquire privately held, UK based Gullivers Travel Associates, the trading name of Donvand Ltd., and Octopus Travel Group Ltd. for approximately $1.1 billion in cash. Gullivers Travel Associates is a leading wholesaler of hotels, destination services, travel packages and group tours, and is a global online provider of lodging and destination services, selling directly to consumers as well as through third party affiliate and primarily low cost airlines. This acquisition provides Cendant with vast wholesale hotel, tour and packaged travel content, and expands its global footprint in the travel distribution business.

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