OnlineTravelCorporation.com

Title

Online Travel Corporation

Description

OTC was co-founded in 1998 by CEO Mark Jones, a chartered accountant specialising in the travel industry to take advantage of internet technologies to fundamentally alter the cost structure of the travel industry. Since the company's inception, it has followed an aggressive acquisition and expansion strategy, increasing annual sales value ten-fold over the last three years. The company was acquired by lastminute.com plc in 2004.

OTC raised £1.3m through its flotation on the Alternative Investment Market (AIM) and acquired offline tour operator TravelCoast for £1.1m including its products, licences and customers.

OTC strengthened its B2C position with the acquisition of the Digital Travel division of EMAP for £2.8m. Travel sites acquired through the deal included Bargainholidays.com, A2btravel.com, 1Ski.com and Ferrybooker.com.

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