PR Newswire
BOSTON, July 24, 2017
BOSTON, July 24, 2017 /PRNewswire/ -- Great Hill Partners has
finalized the previously disclosed sale of Momondo Group Ltd to The Priceline Group Inc. (NASDAQ: PCLN) for approximately
$550 million in cash. Headquartered in London and Copenhagen, Momondo Group operates leading global flight and hotel comparison platforms under its two
brands, Momondo and Cheapflights.
Michael Kumin, Managing Partner at Great Hill Partners, commented: "We are proud to have
partnered with Momondo Group to help build one of the most dynamic companies in the global online travel market, serving a loyal
base of consumers across the globe. We would like to thank Hugo Burge and the entire management
team for their outstanding execution in rapidly growing the company, and building intuitive products with a relentless focus on
delighting the customer."
Hugo Burge, outgoing CEO of Momondo Group, added: "I want to thank Great Hill Partners for
their support in helping us reach a leadership position in the metasearch market since 2013. They have been an invaluable partner
in facilitating our global expansion and supporting our purpose driven strategy behind the continued development of our leading
Momondo and Cheapflights brands. I'm glad to have had the opportunity to work with them to a highly successful outcome."
About Great Hill Partners
Great Hill Partners is a private equity firm that has raised over $5 billion in
commitments since inception to finance the expansion, recapitalization, or acquisition of growth companies in a wide range of
sectors in business-to-business and business-to-consumer industries including software, financial and healthcare technology,
digital media, eCommerce, and internet infrastructure. Great Hill targets investments of $25 million to
$200 million. For more information, visit www.greathillpartners.com.
Contact :
Mary Kate Bertke, Director of Investor Relations
Great Hill Partners LP
617-790-9466
mkbertke@greathillpartners.com
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SOURCE Great Hill Partners