The deal for Kelkoo Select achieves an exit for UK private equity firm Jamplant, which initially acquired parent company Kelkoo from Yahoo! in 2008.
Following the launch of its deals platform in May, the purchase comes on the back of the recent daily deal business buys of Keynoir and LikeCube.
Kelkoo Select was established as a standalone business venture by Kelkoo, a shopping and travel comparison website.
The buy forms part of Time Out’s transaction business and is part of its digital rollout.
Paul Shaw, e-commerce director at Time Out, comments: ‘Time Out customers will benefit from the additional breadth of offers that Kelkoo Select can provide, including access to a number of exclusive partnership deals.’
In 2010, London-based founder of Time Out, Tony Elliot, sold a 50 per cent stake in the company to private equity firm Oakley Capital to raise capital to accelerate its digital drive.
As part of the deal, which is for an undisclosed amount, the Kelkoo Select team will report to Shaw.
David King, chief executive officer of Time Out, adds: ‘It’s fantastic to be able to add Kelkoo Select to the Time Out Group offers business.
‘This acquisition enhances our offering to customers and supports us in forming long term relationships with suppliers, delivering exclusive deals at competitive prices.’
