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Flight Centre secures acquisition

Flight centreThe Flight Centre’s $US28 million ($A38.96 million) acquisition bid for StudentUniverse has been accepted.

In a statement to the market today, Flight Centre said 98.66 per cent of shareholders of StudentUniverse’s unlisted Irish parent company had accepted the bid.

As a result the offer has become unconditional.

“We are delighted that the offer is now unconditional and we look forward to working with the StudentUniverse team to grow the business,” MD, Graham Turner said.

“StudentUniverse will give us a stronger presence in the student and youth demographic, both in the United States and globally, and will bring new expertise to FLT in a number of key areas, including online technology and digital marketing.”

SU employs 160 people and is the leading student travel brand across all search engines in the US. The company is expected to generate more than $US250 million in total transactional value during the 2015 calendar year.

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