Interpark to merge with Triple to improve booking services
Interpark announced Wednesday it will merge with Triple, a start-up that operates a flight and hotel booking application of the same name.
The merger with Triple was approved at both companies' board of directors meetings, Interpark announced. Interpark will be the surviving entity, with the merger expected to be completed on Aug. 1.
The merged entity’s new name and CEO will be announced later.
Triple is an application that allows users to book flights and hotels. It also recommends popular tourist spots.
Both Interpark and Triple have close ties with Yanolja.
Interpark spun off its commerce, flight and ticket booking business in April, handing down the same name to the spun-off entity. The parent runs all non-e-commerce businesses and was renamed to Gradiant. Yanolja is the largest shareholder of the new Interpark with a 70 percent stake.
Triple also received a 10-billion-won ($8 million) investment from Yanolja in December last year. Yanolja currently has a 15 percent stake in the company.
With both Interpark and Triple specializing in flight and hotel bookings, the companies expect the merged entity to have a bigger presence in the tourism industry. They also plan to offer their services abroad following the merger.
“We now have the ability to offer more detailed information about tourist destinations and personalized services regarding flights, bookings and leisure activities,” said a spokesperson for Interpark. “We plan to tap into the global tourism market as well.”
BY LEE TAE-HEE [email@example.com]