Cheapflights Media has made a strategic investment in travel meta-search site Momondo.com and its parent company Skygate International, the company announced this morning.
Both Skygate and Momondo will continue to operate from Copenhagen as independent brands, led by their existing founding management. Terms of the investment were not disclosed.
Interestingly, Cheapflights also operates a meta-search engine for travel-related queries dubbed Zugu. According to Tnooz, it will be shelved as a result of this deal.
According to Cheapflights Media, Momondo and the Cheapflights network of sites collectively hosted over 115 millions visits from travelers across 15 countries and listed millions of travel deals from over 700 airline and travel partners.
Cheapflights says it will continue to focus on providing the best flights deals for consumers with flexible schedules, while Momondo will focus on providing consumers on a fixed schedule with real time bookings in flights, hotels and car hire.
Geographically, Momondo has a strong Scandinavian and Russian presence, while Cheapflights has a strong UK and North American presence.
