Et-china, a Guangzhou-based online travel company, has announced that it has acquired Beijing-based Yoee.com, a leading online seller of air tickets in China.
Yoee.com was founded in 2003 by Justin Xiong and Beijing Foreign Enterprise Air Service–the largest airline ticketing consolidator in China–and it is now one of the leading online travel brands in North China. Yoee.com was one of the first online sellers in China to provide real-time online search and booking services for both domestic and international air travel.
This acquisition is believed to have compelling strategic and financial benefits for both companies. The combined entity will consolidate Et-china's online travel division as a top three player nationwide and significantly increase its product, distribution and service capabilities across the whole country in the fast growing frequent independent traveler market.
Currently, out of China's online travel companies, Ctrip.com has a market share of over 50%, eLong.com ranks in second place with a market share of around 15%. This acquisition might lead to a reshuffle of China's online travel market.