Wednesday, December 4, 2013

HomeAway Expands Down Under With Acquisition

Austin-based vacation rental marketplace HomeAway is expanding Down Under, saying this morning that it has acquired Australian vacation rental marketplace publisher Stayz Group, in a deal worth approximately $198M in cash. Stayz operates Stayz.com.au, Rentahome.com.au, TakeABreak.com.au, and YesBookIt, and had been owned by Fairfax Digital. HomeAway said that Stayz had AU$25.4 million in revenue in its last fiscal year 2013, which ended in June. HomeAway said the buy adds 33,000 additional, Australian properties to its network. HomeAway also gains 40 employees in Sydney.