Allens Arthur Robinson has acted for Yahoo!7, the joint venture between the Seven Media Group and Yahoo!, in its acquisition of totaltravel.com, the online travel information marketplace.
The transaction is the first acquisition for Yahoo!7 and signals a strategic move by the company into the online travel market.
Established in 1999, totaltravel.com is one of the largest travel sites in Australia and features international listings of accommodation, restaurants, events, shopping and attractions.
Allens Partners Jeremy Low (M&A) and Ian McGill (Communications, Media & Technology) - with lawyers Andrew Tchadovitch, Matt Vitins and Sandy Wu - advised Yahoo!7 on the transaction, including regulatory advice, due diligence, documentation and structuring.
"We are delighted with the result for all and to have played a role in Yahoo!7's first acquisition as part of their new venture, which helps them to build leadership in the online travel category," said Low.