HomeAway buys stake in New Zealand company

Nov 6, 2013
Austin Business Journal

Vacation home listing company HomeAway Inc. has bought an ownership stake in New Zealand-based Bookabach Ltd

Austin-based HomeAway (Nasdaq: AWAY) bought a 55 percent stake in Bookabach, the operator of a vacation rental site. The acquisition also includes Bookastay, the company’s affiliated Australian rental site. The two websites combined feature more than 8,000 property listings, company officials said Wednesday

Bookabach, founded in 2000, is both a subscription and transaction-based model that features properties operated by owners and property managers. Co-founder Peter Miles will continue to oversee the company and its seven employees from its office in Auckland

HomeAway also recently inked a deal to offer its vacation properties through online travel and vacation website Expedia.com

HomeAway, founded in 2005, employs about 1,443 workers, with 754 based in Austin

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