TripAdvisor acquires Bokun

TripAdvisor acquired (20-Apr-2018) Bokun, a provider of business management technology for the tours, attractions and experiences industry. With the acquisition, TripAdvisor expands its offering, now providing suppliers with technical solutions in addition to its distribution channel. TripAdvisor Experiences and Rentals president Dermot Halpin stated: "As the industry leader, our opportunity in this space is enormous. We're committed to taking the experiences sector far beyond its current online penetration of just 20%... This marks a new phase for our business: we're expanding beyond our core offering as the industry's largest distribution channel. This product is part of a very bright future for the industry - one that eliminates fragmentation, significantly grows and simplifies distribution for suppliers, and dramatically improves the shopping experience for travelers". Bokun will remain based in Iceland, with immediate plans to expand the team. Terms of the acquisition will not be disclosed. [more - original PR]