Advised eTraveli, a leading European Online Travel Agent combining flight booking and metasearch capabilities, on its sale to ProSieben Travel 
– Founded in 2007 from the merger of Seat24 Travel and SRG Online, Etraveli is one of Europe’s largest Online Travel Agents, combining leading flight booking and metasearch capabilities
– In 2014, Etraveli generated c.€900m in Total Transaction Value and €69m in Net Revenue. In the first six months of 2015, Net Revenue growth was 34% y-o-y
– The company is headquartered in Uppsala, Sweden and operates in 40 countries worldwide
– ProSieben is one of Europe’s largest diversified media groups, reaching more than 42 million TV households daily in the DACH region
– Through its strategic investment arm, 7Commerce, Prosieben has made 80+ investments in eCommerce
– The company recorded revenues of €3.0bn for the 12 months ending June 2015 and has an enterprise value of c.€11bn
– The transaction represents a significant step toward internationalizing ProSieben’s existing travel portfolio and lays the foundation for additional growth that extends beyond Europe
– Additionally, Etraveli will leverage ProSieben’s strong platform, marketing reach and e-commerce base in entering the German flight metasearch market
– Arma Partners supported Etraveli in the exit process, including financial analysis, strategic positioning, valuation, marketing materials preparation
– ProSieben emerged as the most attractive bidder for the business and Arma, together with the management team and Segulah, consequently worked towards a very tight and compact timeline to complete the deal which pre-empted a wider auction process
– This transaction demonstrates Arma Partners’ strength in European Technology M&A and outstanding track record in the Online Travel sector in particular